WASHINGTON, March 28 Reuters Lawmakers are expected to put top U.S. bank regulators on the defensive over the unexpected failures of regional lenders Silicon Valley Bank and Signature Bank when they testify before Congress on Tuesday.

Top regulatory officials for the Federal Reserve, Federal Deposit Insurance Corporation FDIC and Treasury Department are testifying before congressional committees on the swift collapse of the two banks earlier this month, which set off a broader loss of investor confidence in the banking sector.

Regulators have vowed to review their rules and procedures after the twin failures while insisting the overall system remains sound. Tuesday39;s hearing at the Senate Banking Committee will give lawmakers the chance to press watchdogs on what went wrong on their watch, and push preferred policy prescriptions.

In prepared remarks released before the hearing, top officials from the Fed and FDIC said depositor funds are safe and sound. But they both said they are reviewing what led to the bank failures, and what rules need to be changed to prevent such collapses in the future.

There will be politicking at both hearings with progressives and conservatives looking to score political points, said Jaret Seiberg with TD Cowen.

But we also expect substance as lawmakers press the officials on what went wrong at these banks and what the message should be for uninsured depositors.

The turmoil set off fresh recriminations in Washington, as some Democrats…