{"id":172614,"date":"2023-03-17T22:53:02","date_gmt":"2023-03-17T22:53:02","guid":{"rendered":"https:\/\/precoinnews.com\/?p=172614"},"modified":"2023-03-17T22:53:02","modified_gmt":"2023-03-17T22:53:02","slug":"house-sets-first-hearing-into-svb-and-signature-bank-failures","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/politics\/house-sets-first-hearing-into-svb-and-signature-bank-failures\/","title":{"rendered":"House sets first hearing into SVB and Signature Bank failures"},"content":{"rendered":"
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Reps. Patrick McHenry and Maxine Waters. Photo: Al Drago\/Bloomberg via Getty Images.<\/p>\n
Top federal banking regulators will testify before a House panel this month in the first of several highly anticipated hearings on the Silicon Valley Bank and Signature Bank collapses.<\/p>\n
Why it matters: <\/strong>With proposed new regulations facing difficult odds amid resistance from lawmakers in both parties, hearings and probes will comprise a key piece of the congressional response to the bank failures.<\/p>\n Driving the news: <\/strong>The hearing is scheduled for March 29, the House Financial Services Committee announced Friday. It will include testimony from banking regulators who were at the center of the federal response to the bank failures.<\/p>\n What they\u2019re saying: <\/strong>Reps. Patrick McHenry (R-N.C.) and Maxine Waters (D-Calif.), the chair and ranking member of the committee, said in a statement the hearing will "allow us to begin to understand why and how these banks failed."<\/p>\n The backdrop: <\/strong>The Senate Finance Committee got the first opportunity to seek answers on the bank failures and the federal response in a hearing on Thursday where Treasury Secretary Janet Yellen testified about her department's 2024 budget request.<\/p>\n Go deeper<\/strong>: Banks brace for third week of drama with SVB up in the air<\/p>\n\n
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