U.S. Fed's review of SVB supervision to be released on Friday

The Federal Reserve said its internal review of the supervision and regulation of failed lender Silicon Valley Bank will be released on Friday at 11 a.m. New York time.

Michael Barr, the Fed’s vice chair for supervision, led the highly anticipated review, which was due by May 1. Barr has said that supervisors could have done more to keep tabs on the bank, known as SVB, before its collapse in March.

Silicon Valley Bank was the largest US bank failure in more than a decade, with about about US$209 billion in assets at the end of last year. Unlike previous blow-ups in which banks suffered from deteriorating loan quality, SVB suffered an interest-rate shock in its bond portfolio, which then led to a destabilizing deposit run.