Rep. Patrick McHenry, R-N.C., the chair of the House Financial Services Committee, which is slated to hold a hearing on the matter later this month, said Sunday he didn't have all the facts to assess what led to the collapse of Silicon Valley Bank.
McHenry told "Face the Nation," regarding SVB's collapse and the failure of Signature Bank: "We need to get to the bottom of whether or not this is a supervisory problem, a regulatory problem, a bank mismanagement problem, perhaps all three ... in all frankness."
In an earlier comment, McHenry said, "I don't have the facts. And until I have the facts, I'm not going to draw a conclusion, especially in a moment like this."
The chairman of the Financial Services Committee has scheduled a hearing for March 29 with both the chairman of the Federal Deposit Insurance Corp.'s Board of Directors, Martin Gruenberg, and Michael Barr, the vice chair for supervision of the Federal Reserve's Board of Governors.
When asked if he plans to call on Mary Daly, head of the San Francisco Fed, to testify before Congress, McHenry said, "The question of the San Francisco Fed is the question of supervisor."
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