Michael S. Barr: “They failed in basic measures of interest rate risk and liquidity risk.”

The responsibility of bank management is to take the monetary policy, the interest rate world around it, and to respond with appropriate risk metrics, and they didn't do that.

I do not want to live through it again.

FinCEN, and Treasury, should be following the money in these areas to expose the relationships between the cartels and the illicit financing.

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