House Financial Services Committee Hearing Scheduled on Signature Bank, Silicon Valley Bank Failures

The House Financial Services Committee has scheduled its “first” hearing on the failure of Silicon Valley Bank and Signature Bank. The hearing will be held at 10:00 AM ET on March 29, 2023, and is said to be the first of multiple hearings the Committee will hold on the issue.

Committee Chair Patrick McHenry and Ranking Member Maxine Waters issued a joint statement on the hearing.

“The House Financial Services Committee is committed to getting to the bottom of the failures of Silicon Valley Bank and Signature Bank. 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.”

The witnesses currently scheduled for the hearing include:

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

The hearing will be live-streamed on the Committee’s website.

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