https://www.eastbaytimes.com/2023/04/28/fed-autopsy-on-svb-faults-banks-management-and-its-own-oversight/

In a hotly anticipated banking report released Friday morning, the Federal Reserve said it failed to take sufficient action to prevent the collapse of Silicon Valley Bank, while detailing serious management oversights by the lender’s executives.

The Fed, which is SVB’s primary regulator, took responsibility for its own lapses, saying that supervisors “did not fully appreciate the extent of the vulnerabilities as Silicon Valley Bank grew in size and complexity” and “did not take sufficient steps” to ensure that SVB address its problems quickly.