Regulators of the US banking sector acknowledged Friday, April 28, through reports, a role in the failure of several regional banks that shook the financial system in March. The Federal Reserve (Fed) and then the US Federal Deposit Agency (FDIC) have published a report in quick succession taking stock of their approach to the bankruptcy of two institutions.
The reports quickly took the form of a mea culpa from both organizations, which admitted to having their share of responsibility for the chain of failures.