Bloomberg
Published Apr 28, 2023 14:54
(Bloomberg) -- The Federal Reserve will undertake an expansive review of US bank rules in the wake of Silicon Valley Bank’s failure, a top official said Friday following a detailed report on the bank’s collapse.
Michael Barr, the Fed vice chair for supervision, outlined a slew of potential changes to how the Fed oversees financial institutions, from capital and liquidity requirements to annual stress testing. The changes would not require legislative approval, a senior Fed official told reporters Friday, but would likely take several years to complete.
Read more: Fed Seeks Broad Changes to Bank Rules in Aftermath of SVB
In a letter accompanying the SVB report, Barr said the Fed should evaluate regulation and supervision in several key areas:
Barr also recommended changes to how the Fed supervises banks on the ground, including:
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Written By: Bloomberg
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