FINANCE BRIEFING: Banks Face Biggest Rules Overhaul in Years – Bloomberg Tax

By Giuseppe Macri
Top US financial officials 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 collapse of Silicon Valley Bank and other US regional lenders.
“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 yesterday.
Federal Deposit Insurance Corp. Chairman Martin Gruenberg said in his testimony to the panel that the failures of SVB and Signature Bank …
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