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<p><font color="#14ABB2">Probative Inquiry into the <br>2023 Financial Sector Stress Events</font></p><p><font size ="6"><font color="#455664">Preliminary Report: Public Exposure Draft</font></font></p> <p><font size ="5"><font color="#14ABB2">Report Download</font></font></p>

Probative Inquiry into the
2023 Financial Sector Stress Events

Preliminary Report: Public Exposure Draft

Report Download

by Starling Insights

Starling Insights Editorial Board

Sep 21, 2026

Thoughts

At the beginning of this year, Starling Advisory Group was retained by the US Federal Reserve Board’s Division of Supervision & Regulation to conduct an independent Probative Inquiry into the Financial Sector Stress Events of 2023, including the failure of Silicon Valley Bank (“SVB”), and the supervisory lapses that may have contributed to those events.

This Preliminary Report presents the initial findings of that ongoing work, drawing on interviews with current and former senior Federal Reserve officials and supervisory staff as well as an extensive review of public and confidential documentary evidence.

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