Tillis, Sinema Lead Bipartisan Group of Senators Questioning the Federal Reserve on Its Oversight of Silicon Valley Bank

U.S. Senators Thom Tillis (R-NC) and Kyrsten Sinema (I-AZ) led a bipartisan group of senators in questioning the Federal Reserve about clear warning signs ahead of Silicon Valley Bank’s collapse. The Senators urged that as part of this investigation, the Fed should focus on the role of concentration risk in the bank examination process and review the financial arrangements between Silicon Valley Bank and its customers to determine their impact on the bank’s collapse.