The Federal Reserve will undertake an expansive review of US bank rules in the wake of Silicon Valley Bank’s failure, a top official said Friday following a detailed report on the bank’s collapse. Michael Barr, the Fed vice chair for supervision, outlined a slew of potential changes to how the Fed oversees financial institutions, from capital and liquidity requirements to annual stress testing. The changes would not require legislative approval, a senior Fed official told reporters Friday,...

Senator Bernie Sanders said he plans to introduce a measure that would prevent big-bank executives from serving on the boards of the regional Federal Reserve banks that oversee them. “One of the most absurd aspects of the Silicon Valley bank failure is that its CEO was a director of the same body in charge of regulating it: the San Francisco Fed,” the Vermont senator said on Twitter on Saturday. “I’ll be introducing a bill to end this conflict of interest by banning big bank CEOs from serving...