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Read. Follow. Verify.Congressional Hearing on Recent Bank Failures
Record date · January 1, 2023
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What This Bill Does
This document is the official transcript and record of a March 29, 2023, House Financial Services Committee hearing. Federal regulators from the Federal Reserve, FDIC, and Treasury Department testified regarding their response to recent bank failures.
The hearing provides the official federal explanation and regulatory perspective on the stability of the U.S. banking system following the collapse of major financial institutions in early 2023.
Who It Affects
Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.
Federal Reserve
The agency is required to provide testimony and written responses regarding its supervisory role in bank failures.
FDIC
The agency is required to provide testimony and written responses regarding its role in deposit insurance and bank resolution.
U.S. Department of the Treasury
The agency is required to provide testimony and written responses regarding domestic financial stability.
Key Facts
- The hearing was held on March 29, 2023, by the House Committee on Financial Services.
- Testimony was provided by officials from the Federal Reserve, the FDIC, and the U.S. Department of the Treasury.
- The record includes written responses to follow-up questions from committee members directed to the three testifying agencies.
- The appendix contains supplemental materials, including letters to the Comptroller General and external articles regarding bank supervision and interest rate impacts on bond holdings.
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- The hearing is officially designated as Serial No. 118-12.
Frequently Asked Questions
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News Coverage
Follow the record
Votes, people, money & the original sourceFull breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Extensive Follow-up Documentation
The document contains a significant volume of 'Questions for the Record,' indicating a high level of detailed follow-up by committee members after the initial hearing.
Connected Entities
Sources
www.govinfo.gov
Analysis Score
0–100- Significance85How much this matters to a regular citizen
- Controversy60Intensity of disagreement among stakeholders
- Entertainment20Compellingness for a non-policy-wonk reader
- Buzz40Current news / social attention level
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