Fed had to set up a swap/lend facility that weekend. Sort of like they make it up as they go. The specific regulator is going to retire. "Abbasi and Mary Daly

Fed had to set up a swap/lend facility that weekend. Sort of like they make it up as they go. The specific regulator is going to retire. "Abbasi and Mary Daly, president of the San Francisco Fed, came under scrutiny after a post-mortem report undertaken by the Federal Reserve found problems with how SVB was supervised." https://www.msn.com/en-us/money/markets/key-san-francisco-fed-official-who-oversaw-supervision-of-svb-will-retire/ar-AA1fWSEW https://www.msn.com/en-us/money/markets/key-san-francisco-fe... And through regulatory capture the CEO of SVB was on the board of directors of the regulator! https://www.reuters.com/markets/us/ceo-failed-silicon-valley-bank-no-longer-director-sf-fed-2023-03-10/ https://www.reuters.com/markets/us/ceo-failed-silicon-valley...