The U.S. Senate Banking Committee will hold its first of several hearings on the collapse of Silicon Valley Bank and Signature Bank on Tuesday and the federal regulatory response.

The first hearing will feature witnesses, including Federal Deposit Insurance Corporation Chair Martin Gruenberg, Federal Reserve official Michael Barr, and Nellie Liang, undersecretary at the U.S. Treasury Department.

The U.S.'s top financial regulator is asserting that Silicon Valley Bank's own management was largely to blame for the bank’s failure earlier this month, and said the Federal Reserve will review whether a 2018 law that weakened stricter bank rules also contributed to its collapse.

The Fed’s vice chair for supervision, Michael Barr, says in written testimony to be delivered Tuesday at a Senate hearing that the California-based bank's failure “is a textbook case of mismanagement.” Barr points to SVB's “concentrated business model,” in which its customers were overwhelmingly venture capital and high-tech firms in Silicon Valley. Barr contends the bank failed to manage the risks of its bond holdings.

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