SVB management, examiners failed to appreciate risks: Fed IG

WASHINGTON (Reuters) – The leadership of Silicon Valley Bank and its government supervisors failed to quickly recognize risks looming in the firm before its March failure, according to a report from the Federal Reserve’s inspector general.

The report echoed similar dissections of the sudden collapse, finding that the bank did not manage risks as it rapidly grew and that examiners struggled to adequately police a bank that was quickly becoming one of the biggest in the country.

(Reporting by Pete Schroeder; Editing by Mark Porter)