Late last month, Michelle W. Bowman, a Governor on the US Federal Reserve Board, spoke at the Salzburg Global Seminar about how bank regulation and supervision can be made more responsive and responsible following the recent failures of Silicon Valley Bank and Credit Suisse.
"Many of the problems we have seen at these banks — interest rate risk, liquidity risk, poor risk management — are not caused by any evolution in banking," Bowman argued. "These bank failures and recent stress in the banking system have highlighted key deficiencies in risk management practices, and key deficiencies in supervisory priorities."
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