A huge open question is not whether bank supervisors can identify problems but what ought to happen when they do.
Michael Barr, vice chair for supervision at the Federal Reserve, shakes hands with Sen. Tim Scott, a Republican from South Carolina and ranking member of the Senate Banking, Housing, and Urban Affairs Committee. Photo: Samuel Corum/Bloomberg via Getty Images
The problems that caused it to unravel — prompting an extraordinary government response to back the entire banking system — were identified early by the supervisors scrutinizing the bank. , leaders of the Fed, the Treasury and the FDIC are testifying Tuesday before the Senate Banking Committee.regulators had identified problems long before SVB failed, including finding six areas of deficiency near the end of 2021; three more in May 2022; and concluding the bank's management was deficient in the summer of last year.
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