Rep. McHenry Grills Regulators on SVB Awareness

The transcript discusses the timeline and actions taken regarding the financial distress of Silicon Valley Bank (SVB). It covers when key figures became aware of the issues, the February presentation on interest rate risks, and the subsequent actions leading up to the bank run. The FDIC's involvement and the auction process are also detailed, highlighting the systemic risk designation and market impact.

When did the Vice Chair first become aware of the financial distress at Silicon Valley Bank?

• Wednesday morning

• Thursday morning

• Saturday evening

• Friday afternoon

What was the focus of the February staff presentation mentioned in the transcript?

• Bank run prevention

• Interest rate risk

• Capital raising efforts

• Deposit outflows

What did the Vice Chair of Supervision do between the February presentation and the week of March 6th?

• Completed a review of the bank

• Initiated a bank run

• Raised capital for the bank

• Ignored the situation

When did the Vice Chair become aware of the deposit outflows?

• Wednesday evening

• Saturday night

• Thursday afternoon

• Friday morning

What was the main challenge in using the discount window to address the bank's liquidity issues?

• Regulatory restrictions

• Difficulty in evaluating collateral

• Lack of funds

• High interest rates

When was the decision made to appoint a receiver for Silicon Valley Bank?

• Saturday afternoon

• Friday morning

• Thursday evening

• Sunday evening

When was the auction for Silicon Valley Bank opened?

• Friday morning

• Saturday evening

• Monday morning

• Sunday afternoon