Michael S. Barr: “I completely agree that it should be subject to full and complete congressional oversight.”

I can say the banking system is sound and resilient. I think that was really the right thing to do.

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

Yes. I have been consistent in saying both that the system is strong and that we also need to think about stronger capital rules.

I have said repeatedly that banks, according to our rules, are well-capitalized today. Our banking system is sound and resilient.