•Federal Reserve's Michael Barr testified before the Senate Banking Committee on Tuesday and stated that the collapse of Silicon Valley Bank was a textbook case of bank mismanagement<br /><br />•SVB tripled in size over the last three years, and financial controls failed to keep pace<br /><br />•Bank didn't take quick and decisive action when raising interest rates lowered the value of its government bonds<br /><br />•Federal regulators warned bank managers about the potential risk as early as October twenty twenty-one