"I think that anytime you have a bank failure like this, bank management clearly failed, supervisors failed and our regulatory system failed," the Fed's vice chair for supervision Michael Barr told the House Financial Services Committee.
As Silicon Valley Bank-led crisis in the US banking system and contagion effect on some others in a matter of just a week arose, India's International Financial Services Centres Authority (IFSCA) has constituted an expert committee to formulate a roadmap to onshore the Indian innovation to G
Stock indices in India continue to decline, pulled down by a sharp dip in almost all sectoral indices, particularly the PSU bank following the collapse of two US banks in a matter of two-to-three days.
Stock indices in India declined sharply to start the fresh week, pulled down by a sharp dip in banking and financial stocks following the collapse of two US banks in a matter of two-to-three days.
The SVB collapse has sent ripples across the tech industry in the United States, the United Kingdom and other countries, including Israel, where the tech lender has branches.