The California Department of Financial Protection and Innovation has said regulators "did not take adequate steps" to ensure Silicon Valley Bank's problems did not lead to a collapse.

In a report titled Review of DFPI's Oversight and Regulation of Silicon Valley Bank, the regulator laid the blame for the US regional bank's collapse last month at the feet of both regulators and the bank itself.

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The post-mortem found SVB had been slow to properly disclose and fix deficiencies within it, and the regulator had not taken adequate steps to ensure the bank resolved its problems as fast as possible.

While DFPI was partially response for regulation of the bank, primary oversight had been conducted by the Federal Reserve Bank of San Francisco, which the report said should devote more staff to supervision.

DFPI also noted some of the reasons for the bank's collapse were due to its business model taking a high level of uninsured deposits and its customers using digital banking technology and social media, which "accelerated the volume and speed" of the bank run.

The bank's "unusually rapid growth was not sufficiently accounted for in risk assessments", the regulator added.

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As a result of the report, the DFPI said it would be looking to increase staff on supervision, review its regulation on banks and increase focus on banks' uninsured deposit levels.

The report followed a Federal Reserve report last month, which saw the central bank blame the US regional bank's collapse on a lack of oversight and poor management.

Former SVB chief executive Gregory Becker is set to testify before the Senate banking committee next week, marking the first time he has spoken publicly since its collapse.