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Treasury proposes new process to spot risks after SVB, Signature Bank failures

U.S. Secretary of the Treasury testifies before the Senate Appropriations Subcommittee on Financial Services March 22, 2023 in Washington, DC.

Win Mcnamee | Getty Images

WASHINGTON — The Treasury Department’s risk oversight arm on Friday proposed new tools for spotting issues in the U.S. financial system, more than a month after the collapse of Silicon Valley Bank and Signature Bank sparked efforts to prevent further damage to the economy.

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