When requested in a Senate listening to this week who was accountable for the demise of Silicon Valley Financial institution, the lender’s former chief govt, Greg Becker, had loads of concepts, blaming regulators, the financial institution’s board and its personal prospects for bringing it down.

On Thursday, senior officers from two of the financial institution’s most important regulators, the Federal Reserve and the Federal Deposit Insurance coverage Company, informed members of the identical Senate panel that a few of the impressions Mr. Becker had left lawmakers with had been false.

The contradictory congressional testimony threatened to pose yet one more downside for Mr. Becker, who’s dealing with an investigation by federal felony prosecutors into his dealing with of the failed California lender in addition to a shareholder lawsuit accusing him and one other senior chief of deceptive buyers concerning the financial institution’s well being within the lead-up to its failure.

James N. Kramer, a lawyer for Mr. Becker, stated Mr. Becker stood by the statements he had made.

The regulators’ statements had been a part of a listening to held by the Senate Banking Committee on how financial institution oversight ought to look sooner or later in gentle of the failures of three regional banks this spring. It got here two days after Mr. Becker appeared alongside former senior leaders of Signature Financial institution, a New York lender that collapsed simply after Silicon Valley Financial institution did and prompted the federal authorities to take drastic steps to stop widespread panic within the banking system.

Senators on Thursday requested the regulators accountable for overseeing Silicon Valley Financial institution about two exchanges Mr. Becker had with committee members earlier within the week. In a single, Mr. Becker appeared to say his financial institution had mounted all however considered one of its issues effectively earlier than it failed. Within the different, he appeared to say that he had been shut out of the method of discovering a purchaser for Silicon Valley Financial institution after it had failed.

Through the first trade on Tuesday, Senator Thom Tillis, Republican of North Carolina, requested Mr. Becker to explain how his financial institution had responded to issues regulators had flagged in its danger administration practices. Mr. Tillis introduced up an inventory of things regulators known as “issues requiring consideration” and requested Mr. Becker to explain how they had been dealt with.

“We had been engaged on them aggressively,” Mr. Becker stated. “To my reminiscence, by the center of ’22, the overwhelming majority of these findings had already been remediated. And, I consider, even in early ’23 my recollection is there was roughly a kind of findings that had been excellent so the group once more from my standpoint was very aware of the regulatory suggestions.”

On Thursday, Senator Mike Rounds, Republican of North Dakota, requested the Fed’s vice chair for supervision, Michael Barr, whether or not the issues actually had been mounted. Mr. Barr stated that that they had not.

Mr. Becker “informed this committee that they took care of all the issues,” Senator Jon Tester, Democrat of Montana, stated in an trade with Mr. Barr.

To that, Mr. Kramer responded, “Mr. Becker was referring to suggestions he acquired from the inner group at SVB” and had by no means meant to recommend that regulators had signed off on the completion of the issues.

Additionally at subject was whether or not Mr. Becker had been capable of assist discover a purchaser for his failed financial institution. In his written testimony to the committee, Mr. Becker stated he had “made each effort to make sure that SVB’s prospects and workers can be protected, and labored to attenuate, or get rid of, any loses that may consequence from the F.D.I.C.’s takeover of SVB.”

“This included searching for to have interaction potential acquirers, which I believed might have minimized the monetary burden of the F.D.I.C.’s takeover and would have protected SVB’s workers,” he stated.

On Tuesday, Senator Invoice Hagerty, Republican of Tennessee, requested Mr. Becker whether or not federal authorities had let him assist discover a purchaser for the failed financial institution.

“I provided a number of instances to have interaction potential acquirers,” Mr. Becker informed Mr. Hagerty.

“Did they ever seek the advice of you? You stated you provided, however did the F.D.I.C. seek the advice of with you?” Mr. Hagerty requested.

“They didn’t,” Mr. Becker replied.

On Thursday, Mr. Hagerty requested regulators whether or not that was true.

“It’s my understanding that F.D.I.C. workers truly did meet with Mr. Becker on I consider it was the Saturday to get enter from him,” stated chairman of the F.D.I.C., Martin Gruenberg, who added that workers members “obtained enter from him on potential acquirers of the establishment.”

“Fascinating,” Mr. Hagerty replied. “That’s opposite to what he stated.”

“He stands by his testimony that they didn’t seek the advice of with him,” Mr. Kramer stated.

The listening to got here a month after federal regulators launched reviews that laid out the roots of the issues at Silicon Valley Financial institution and Signature Financial institution and the acknowledged regulatory lapses that allowed these issues to fester. The regulators stated that each banks had been poorly managed and had been unprepared for the dangers related to rising rates of interest, however famous the Federal Reserve and the F.D.I.C. had been too sluggish in responding to crimson flags.

Republicans on the committee pushed the regulators for solutions and in some circumstances accused them of blaming the Trump administration’s loosening of financial institution laws for inflicting the current turmoil.

Senator John Kennedy, Republican of Louisiana, accused Mr. Barr for searching for extra authority to control banks after failing to efficiently safeguard the banking system.

Mr. Barr insisted that he was searching for no new powers and, in actual fact, was committing to doing a greater job.

“I’m not searching for any extra authority or energy or cash from this committee,” Mr. Barr stated. “We’re going to use our present authority to strengthen supervision and regulation to make it much less possible that this type of occasion occurs sooner or later.”