Lawmakers grill US regulators over Silicon Valley Bank collapse

WASHINGTON -A top U.S. regulator told a Senate panel on Tuesday that Silicon Valley Bank executives did a "terrible" job of managing risk before the lender collapsed, as lawmakers demanded to know why warning signs of trouble were missed. In the first congressional hearing into the sudden collapse of two U.S. regional lenders and the ensuing chaos in markets, the top banking regulator at the Federal Reserve criticized SVB for its risk modeling and lack of a chief risk officer. "They were issued a matter requiring immediate attention based on the inaccuracy of their interest rate risk modeling," Michael Barr, the Federal Reserve's vice chairman for supervision, told lawmakers. "Esse...Keep on reading: Lawmakers grill US regulators over Silicon Valley Bank collapse

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