A group of President Biden-appointed bank regulators are considering new rules to require large regional banks to add to financial cushions that could be called on in times of crisis.
, the big regionals’ balance sheets are so large that it could be difficult to wind down such a firm in an orderly manner should one fail,Michael Hsu, acting comptroller of the currency, has expressed concern that a recent wave of bank mergers risked creating more too-big-to-fail firms.Michael Barr, the Fed’s new point man on financial regulation, signaled in a Sept. 7 speech that he is eyeing large regional banks “as they grow and as their significance in the financial system increases.
Though any requirements that regional firms hold more long-term debt could be slimmed down from what megabanks are required to raise, they could still require regional firms to issue billions of debt over several years. Large regional banks were exempt from some of the rules. Their growth in the past decade—often through acquisitions—has given regulators a reason to rethink that decision.
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