Fed's Barr says regulators committing to ensuring 'all deposits' are safe

The Federal Reserve's top regulatory official will tell Congress regulators are committed to ensuring all U.S. bank deposits are safe and are prepared to use their tools for any size institution if needed to protect the system.

In prepared testimony, Fed Vice Chair for Supervision Michael Barr added that the banking system is "strong and resilient," but that the Fed is reviewing its actions leading up to the collapse of Silicon Valley Bank and how to tighten rules on banks going forward.