The agency responsible for monitoring SVB was plagued by heightened turnover, among other issues.

In his new book, "A Monetary and Fiscal History of the United States, 1961-2021," economist and former Federal Reserve vice chair Alan Blinder tells the tale of how economic conventional wisdom has evolved over the last half-century.

Vice Chair for Supervision Michael Barr will attempt to downplay the immediate threat of the banking crisis as limited to Silicon Valley Bank and Signature Bank, while calling for long-term reforms in congressional testimony this week.

The Federal Reserve also cited lack of deposit insurance and a reliance on the "speculation"-driven crypto market in its decision to deny Custodia's bid to become a state-chartered member bank.

Sen. Tim Scott, R-S.C., and others on the Banking Committee have requested CAMELS scores for the failed bank and various other supervisory information from the Fed.

The Federal Reserve wants a smaller balance sheet to help rein in inflation. But uncertainty in the banking system is pushing it in the opposite direction.

Economists have warned since last summer that speedy monetary tightening could be destabilizing. This week, the Federal Reserve will decide whether to stay on that course.

Central banks involved in the dollar swaps will "increase the frequency of 7-day maturity operations from weekly to daily," the banks said.

Sen. Sherrod Brown, chairman of the Senate Banking Committee, said in a letter to regulators that they should consider the role of social-media-led coordination among depositors.

The service offered by the Federal Reserve — after years of delays — is expected to expand access to fast payments clearing to a broader selection of banks and financial institutions.

After the failure of two banks between $100 billion and $250 billion of assets, many are asking regulators to change their oversight practices for these banks. The Fed has a wide berth to make a wide array of changes.

The recent bank failures have changed market thinking about the Federal Reserve's next move.

The White House and regulators have sought to ease fears about the banking system, but business depositors as well as regional bank investors remain jittery. Speculation has accelerated about potential buyers of the failed Silicon Valley and Signature banks, the health of certain other regionals and how deposit costs will change.

After the failure of Silicon Valley Bank on Friday, attention will be keenly focused on anything that gives clues about the next steps from the Federal Reserve and its global peers — or hints at greater spillover in the U.S. banking sector.

In his first dedicated remarks on cryptocurrencies, the Federal Reserve's top regulator said the central bank is well positioned to mitigate risks to the banking system.

During his second day of congressional testimony this week, the Federal Reserve chair faced several questions about the Consumer Financial Protection Bureau's embattled funding mechanism.

Democratic Sens. Sherrod Brown, Jack Reed and Raphael Warnock on Tuesday joined Robert Menendez and Catherine Cortez Masto in asking the Biden administration to appoint a Latino to the Federal Reserve Board to improve diversity.

Testifying in front of the Senate Banking Committee, the Federal Reserve Chair said financial stability and market function will both be considered as part of its review of bank capital requirements.

Goolsbee's history of supporting Democratic policies and criticizing Republican ones on TV and radio talk shows, is raising concerns that the central bank is becoming increasingly politicized.

The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency have issued statements on crypto risks this year. Industry participants warn about a chilling effect.