Fed Was in Talks With Silicon Valley Bank to Use Discount Window Before Collapse

Michael Barr testifies at the Senate Banking, Housing, and Urban Affairs at the U.S. Capitol in Washington, on May 19, 2022. Tasos Katopodis/Getty Images

Federal Reserve officials were reportedly in discussions with Silicon Valley Bank (SVB) to use its discount window, right before its collapse earlier this month.

The Fed’s top enforcer testified in front of Congress on March 29, as the elected representatives demanded answers for the California-based lender’s collapse.