6.2 C
New York
Tuesday, March 5, 2024

U.S. bank regulators consider new rules for regional banks in times of crisis -WSJ By Reuters

Must read

Rate this post



© Reuters. FILE PHOTO: People walk wearing masks outside The Federal Reserve Bank of New York in New York City, U.S., March 18, 2020. REUTERS/Lucas Jackson/File Photo/File Photo

(Reuters) – A group of bank regulators appointed by U.S President Joe Biden is considering new rules which will require big regional banks to add financial cushions that can be used in times of crisis, the Wall Street Journal reported on Sunday.

The new steps include the regional banks raising long-term debt that will help absorb losses in cases of insolvency, the WSJ reported adding three people familiar with the matter.

The WSJ report comes over a week after U.S. Federal Reserve chief Michael Barr said that there soon may be tougher rules on large regional lenders after a ‘holistic’ review of bank capital requirements is concluded. (This story refiles to make clear WSJ attribution in headline)

- Advertisement -spot_img

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -spot_img

Latest article