Top U.S. financial officials outlined what’s likely to be the biggest regulatory overhaul of the banking sector in years.
Top U.S. financial officials on Tuesday outlined what’s likely to be the biggest regulatory overhaul of the banking sector in years, in an initiative aimed at addressing underlying issues that contributed to the“I anticipate the need to strengthen capital and liquidity standards” for banks with assets larger than $100 billion, Federal Reserve Vice Chair for Supervision Michael Barr said in answering questions at a Senate Banking Committee hearing.
Democrats have rebuffed that analysis, saying regulatory loosening under the Trump administration contributed to the current banking-sector woes.The Fed’s stress tests of banks will be enhanced with multiple scenarios to uncover a variety of channels of contagion. Gruenberg called for “serious attention” to the capital requirements for the securities portfolios of banks with assets over $100 billion.
Sen. Tim Scott, the top Republican on the panel, said of the collapse of SVB that “this is a classic tale of negligence” on the part of the banks’ managers. “Without any question that’s where the buck stops,” he added.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Top Bank Regulators to Face Senate Questions Over SVB, Signature CollapsesThree top U.S. officials are likely to face pointed questions from senators on Tuesday about their oversight of Silicon Valley Bank and Signature Bank
Weiterlesen »
Senate holds its first hearing into SVB and Signature Bank failuresThe Banking Committee is set to hear from three key regulators Tuesday after the collapse of Silicon Valley Bank and resulting turbulence in the financial sector.
Weiterlesen »
Banking hearings on SVB collapse, GDP and Fed’s inflation gauge top week aheadBanking turmoil will be the focus of hearings in the coming week as investors monitor the future of firms including First Republic while also digesting home price and inflation data.
Weiterlesen »
Top U.S. bank regulators to face hot seat in Congress following SVB collapseFed Vice Chair Michael Barr is expected to tell Congress on Tuesday that regulators issued warnings over Silicon Valley Bank’s risk management practices as early as 2021. Here are more issues to watch during this week’s hearings.
Weiterlesen »
Asia wary, US stock futures up on SVB reportsInvestors hope that authorities are working to ring-fence stress in the global banking system.
Weiterlesen »
Indian shares open higher as SVB acquisition hopes aid sentimentIndian shares opened higher on Monday after reports of advanced talks for the acquisition of collapsed Silicon Valley Bank brought relief to markets, although fears of contagion in the global banking system lingered.
Weiterlesen »