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

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

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

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

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

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.

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

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

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

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

Former SVB President and CEO Greg Becker sold over $3.5 million of his company stock holdings on Feb. 27, according to a disclosure made to the SEC.

Biden said Friday the government should be able to reclaim the compensation of failed bank executives.

The Silicon Valley Bank crisis has panicked depositors and shareholders. But others have benefited.

An Ohio public pension fund for teachers revealed it lost millions by holding more than $27 million in Silicon Valley Bank shares before the bank’s collapse.

Silicon Valley Bank’s parent company and its top executives are named in a lawsuit by shareholders.

Experts told ABC News regulators missed "red flags" before the collapse.

Financial reckoning triggered by Silicon Valley Bank raised a question for Americans: Is my money safe at the bank?

When Silicon Valley Bank (SVB) and Signature Bank were seized and shut down by regulators last weekend, depositors of those banks feared for their money.

Silicon Valley Bank marketed itself as a climate tech-friendly bank. How will its collapse impact the industry?

The second-biggest bank failure in U.S. history took less than 48 hours.

The Justice Department and Securities and Exchange Commission are probing the collapse of Silicon Valley Bank, according to two people familiar with the situation.

Republicans are blaming what they call "woke" policies for the failures of two big banks and President Joe Biden for what they call the "Biden bailout" of "Big Tech."

Silicon Valley Bank was founded 40 years ago. It collapsed in two days.

The FDIC is an independent government agency that was created by the Banking Act of 1933 during the Great Depression.

The Fed, Treasury and FDIC said they will make additional funding available to ensure all Silicon Valley Bank deposits, both insured and uninsured, will be paid in full.

Silicon Valley Bank UK will be acquired by HSBC in a deal that will protect deposits, the United Kingdom's chancellor said on Monday.

The collapse of Silicon Valley Bank, the largest bank failure since 2008, has triggered a financial emergency.

President Joe Biden spoke Monday from the White House in the wake of two big banks failing.

Sen. Mark Warner, D-Va., pumped the breaks on a potential bailout of Silicon Valley Bank after it collapsed last week in the largest bank failure since 2008.