WASHINGTON, March 30 — US Treasury Secretary Janet Yellen said today that banking regulation and supervisory rules need to be re-examined in the wake of the Silicon Valley Bank...
WASHINGTON, March 30 — US Treasury Secretary Janet Yellen said today that banking regulation and supervisory rules need to be re-examined in the wake of the Silicon Valley Bank and Signature Bank failures to ensure that they address current banking system risks.
Yellen said that a 2018 roll-back of bank capital requirements and stronger supervision for smaller and mid-size banks with assets below US$250 billion should be re-examined. She said that regulatory reforms put in place after the 2008 crisis have helped the US financial system weather shocks, including the Covid-19 pandemic.
“This is perhaps best illustrated by the fact that we’ve seen relative stability in the overall banking sector this month, even as concerns grew about specific institutions,” she said.
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