Lawmakers grill San Francisco Fed over Silicon Valley Bank failure.

Ted Cruz and Jim Jordan have written to the Federal Reserve Bank of San Francisco, calling for transparency regarding the Fed's oversight of Silicon Valley Bank prior to its collapse. The lawmakers noted that their previous letter requesting information about the San Francisco Fed's regulatory supervision of SVB went unanswered. The San Francisco Fed has faced criticism for failing to prevent SVB's collapse despite warning signs. The Fed is preparing a report on its regulatory actions and supervision of Silicon Valley Bank, which is due to be released on May 1.