Michael S. Barr: “Overall, our banking system is sound and resilient.”

I don't agree with that assessment. I think that capital in general is facilitating strong lending to all communities, and having strong capital in the system is critical for doing that.

The report that we released suggests that both the Board in Washington and the San Francisco Fed did not hold up the bank with enough pressure.

The failure of SVB illustrates the need to move forward with our work to improve the resilience of the banking system.

The research shows that there is no basis for the conclusion that low-income or moderate-income households were responsible for causing the financial crisis.