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Tuesday, October 3, 2023

US Senate Calls Former SVB and Signature Bank Executives to Disclose Bankruptcies

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US senators have asked the former presidents of Silicon Valley Bank and Signature Bank, which collapsed in early March, to submit a report on the causes of the incident. This is stated on the website of the Banking Committee, which works on the basis of the upper house of the US Congress.

The document states that entrepreneurs must speak in parliament and explain the circumstances of the bankruptcy of the two financial institutions. Relevant letters have already been sent Gregory Becker And Joseph Depaolowho previously served as chairman of SVB and Signature Bank respectively.

As is known, the first hearings will be held on March 28. At the same time, businessmen are invited to answer a few key questions that will help the Senate understand the situation.

Previously, an investigation was launched into the bankruptcy of Silicon Valley Bank in the USA. To clarify the circumstances of the incident, experts will examine all transactions, including the sale of employee shares.

Source: Riafan

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