Fed's San Francisco examiners pushed tech giants to fix vulnerabilities

The Federal Reserve Bank of San Francisco appointed a senior team of examiners just over a year before Silicon Valley Bank collapse threatened a generation of technology startups and their backers. They started calling out the problem.

As the upgraded crew took over, it fired off a series of formal warnings to the bank's leaders, pressing them to fix serious weaknesses in operations and technology, according to people with knowledge of the matter.

One person said that the bank needed to improve how it tracked interest-rate risks in the past, an issue that was at the heart of its abrupt downfall this month.

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