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WITNESS ADDED: McHenry, Waters Announce First Hearing on Silicon Valley Bank and Signature Bank Failures

Washington, Mar 21 -

Today, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), and the Ranking Member of the House Financial Services Committee, Maxine Waters (CA-43), announced a bipartisan hearing with federal financial regulators in response to the failures of Silicon Valley Bank (SVB) and Signature Bank to be held at 10:00 AM ET on March 29, 2023. This will be the first of multiple hearings the Committee expects to hold on this issue. 

Witnesses:

• The Honorable Martin J. Gruenberg, Chairman, Board of Directors of the Federal Deposit Insurance Corporation (FDIC)

• The Honorable Michael S. Barr, Vice Chair for Supervision, Board of Governors of the Federal Reserve

• JUST ADDED: The Honorable Nellie Liang, Under Secretary for Domestic Finance, U.S. Treasury Department

“The House Financial Services Committee is committed to getting to the bottom of the failures of Silicon Valley Bank and Signature Bank,” said Chairman McHenry and Ranking Member Waters. “This hearing will allow us to begin to understand why and how these banks failed. As Chairman and Ranking Member, we take our oversight duties seriously. We are working around the clock to deliver answers to the American people in order to protect depositors, promote the safety and soundness of America’s banks, and strengthen our financial system. We will conduct this hearing without fear or favor to get the answers the American people deserve.”

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