Federal Reserve Vice Chair for Supervision Bowman said on Friday that an external review of the Fed's oversight of the 2023 Silicon Valley Bank collapse found that Fed staff "knew or should have known" about the bank's vulnerabilities before the crisis. The report was completed by consulting firm Starling Advisory Group and unveiled by Bowman in a speech in London. The report also noted that 94% of Silicon Valley Bank's deposits were uninsured and concentrated in venture capital-backed technology companies.