Regulators Fault Deregulation, Lax Oversight in Silicon Valley Bank Failure

The Federal Reserve found "foundational and widespread managerial weaknesses" at Silicon Valley Bank contributed to its collapse.
The Fed failed to fully grasp Silicon Valley Bank's vulnerabilities or ensure warnings were heeded.
Legislation passed in 2018 loosened regulations and oversight of midsize banks like Silicon Valley Bank.
Silicon Valley Bank's executives face lawsuits alleging they hid risks that led to the bank's demise.
The Fed report suggests tightening rules for midsize banks and boosting regulators' agility to prevent future failures.