The “matters requiring attention” are specifically focused on concerns of lackluster internal financial controls and a lack of oversight of stock and bond traders, a source said.
The U.S. corporate earnings reporting season begins this week with a flurry of major U.S. banks set to report their first quarterly performance since the collapse of Silicon Valley Bank (SVB) and Signature Bank last month.
San Francisco Federal Reserve President Mary Daly said the central bank will use all its tools to keep country's financial system “safe and sound,” but she did not offer any fresh details on Silicon Valley Bank in her first public remarks since its failure.
Stricter banking regulations would not have prevented Silicon Valley Bank's sudden collapse last month, a top official at the Federal Deposit Insurance Corporation said on Wednesday, highlighting instead management failures behind its demise.
Detailed minutes of the U.S. Federal Reserve's meeting last month due out Wednesday may show just how close the central bank came to postponing further interest rate increases following the failure of two U.S. banks in the days leading up to the session.
The Federal Deposit Insurance Corp is expected to propose next month how to make the U.S. banking sector pay for an estimated $23 billion hole in its insurance fund by the collapse of Silicon Valley Bank and Signature Bank in March.
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