The financial stress continues to weigh on the banking system.

The demand came during Senate testimony from a senior Fed official.

Senators from both parties accused former Silicon Valley Bank CEO Greg Becker of mismanagement that they said was fueled by short-term profits.

Senators from both major parties sharply criticized the Silicon Valley Bank CEO in a hearing on Tuesday.

Plus, Peloton is recalling more than 2 million bikes due to issues with the seat post, and Wendy’s is partnering with Google on an AI chatbot to take orders at the drive thru.

The sharp decline of PacWest stock prompted a pause in trading of its shares.

The bank saw a 20% drop in shares after reporting it lost 9.5% of its deposits last week.

The better-than-expected report comes as concerns of a banking crisis intensifies as PacWest Bancorp said it is exploring “all options” from potential investors.

PacWest is exploring "all options," the bank said.

The Los Angeles-based midsized lender is exploring “all options," the bank said.

Rate hikes have contributed to a banking crisis and economic slowdown this year.

ABC News’ Linsey Davis spoke with Sheila Bair, the former chair of the Federal Deposit Insurance Corporation, on JPMorgan Chase taking over First Republic Bank and what it means for the economy.

JPMorgan Chase will assume all the assets of the recently failed financial institution.

The bank was sold to JPMorgan Chase by the U.S. government.

The First Republic rescue included $50 billion in financing from a U.S. agency.

JPMorgan Chase is set to take on “all of the deposits and substantially all of the assets of First Republic Bank” after the FDIC confirmed that the bank had collapsed.

ABC News’ Alexis Christoforous breaks down JPMorgan Chase’s acquisition of First Republic Bank, one of the financial institutions rocked by the failure of Silicon Valley Bank earlier this year.

The Federal Deposit Insurance Corporation said the JPMorgan Chase deal avoids the agency having to use its emergency powers and would minimize disruptions for customers.

First Republic Bank has become the third bank to fail in recent months and JPMorgan Chase will assume all of its assets, according to the Federal Deposit Insurance Corporation

Federal regulators are trying to find a buyer for the struggling bank before Asian markets open.

Regulators are working through the weekend to try to find a buyer for First Republic bank.

Federal regulators are racing to seize and sell First Republic Bank as soon as this weekend, a source familiar with the matter told ABC News.

"Supervisors failed to take forceful enough action,” the Federal Reserve report said.

A pair of reports detail shortfalls leading up to the collapse of Silicon Valley Bank. The Federal Reserve is, in part. blaming itself for the second biggest bank failure in U.S. history.

A falloff in the share price of First Republic Bank plummeted renewed fears of a banking crisis.

The Fed sharply criticized leadership at Silicon Valley Bank, but a report also faulted the Fed's lax oversight and an inability to anticipate the systemic threat posed by the bank's failure.

Meanwhile, the White House says it won’t negotiate with Republicans when it comes to raising the debt ceiling.

ABC News’ Elizabeth Schulze breaks down the report finding bank managers failed to manage the bank’s risk.

Silicon Valley Bank's collapse set off a financial panic that led to the failure two days later of Signature Bank.

Elizabeth Schulze and Alexis Christoforous discuss a Federal Reserve review finding Silicon Valley Bank leadership failed to manage the bank’s risk but also finding fault with the Fed on oversight.

The Federal Reserve is expected to release a new report that could shed light on what triggered the collapse of Silicon Valley Bank and Signature Bank. ABC News’ Lindsay Watts explains.

Plus, McDonald’s reports higher than expected sales last quarter credited to successful marketing, and General Motors raises its profit outlook after first quarter earnings exceed expectations.

Plus, British billionaire Richard Branson’s rocket company has filed for bankruptcy, and some major automakers are seeing a rebound in sales as supply chains bounce back after the pandemic.

The Senate Banking Committee questioned officials from the Federal Reserve, FDIC and Treasury Department Tuesday.

One Democrat asked: "Did the Fed drop the ball because it didn't see the risks?"

Regulators from the FDIC, Federal Reserve and Treasury Department are testifying before the Senate Banking Committee on the recent bank crashes.

Officials from the FDIC, Treasury Department and the Federal Reserve are hashing through the recent bank crashes before the Senate banking committee.

The North Carolina bank acquired all of SVB’s deposits, loans and branches and all SVB locations opening Monday under the new name.

First Citizens Bank will buy about $72 billion in assets from the failed Silicon Valley Bank, the Federal Deposit Insurance Corporation said.

First Citizens Bank will buy about $72 billion in assets from the failed Silicon Valley Bank, the Federal Deposit Insurance Corporation said.

Fed Chair Jerome Powell made the comments on Wednesday after the Fed raised interest rates 0.25%.

Treasury Secretary Janet Yellen said the “U.S. banking system remains sound” at the American Bankers Association summit on Tuesday.

Treasury Secretary Yellen said Tuesday that "the situation is stabilizing and the U.S. banking system remains sound," in remarks to the American Bankers Association.

This boost of confidence comes as the Federal Reserve is set to release its decision on the direction of interest rates.

Investors are now turning their attention to the Federal Reserve, which is set to announce its next interest rate decision.

The Fed’s main tool in fighting inflation could be putting financial institutions at risk.

ABC News' chief economics correspondent Rebecca Jarvis and consumer correspondent Becky Worley team up to address concerns over banks, inflation and more.

The Federal Reserve cautioned Silicon Valley Bank on multiple occasions, ABC News confirmed.

The Fed identified significant vulnerabilities at the bank.

Banks around the world announced coordinated moves meant to ease banking fears.