A closer look at the months leading up to the collapse of Silicon Valley Bank, the second-largest bank collapse in history, shows that regulators saw the warning signs since last year but did not step in.

SVB’s collapse sent shockwaves through the markets, destabilized the economy, and raised fears of a domino effect of other banks. Seemingly backing those fears, other banks have recently collapsed as well.

House Oversight Republicans are now reporting that the Federal Reserve Bank of San Francisco was well aware of SVB’s problems beginning in 2021 but did little to address them.