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White House Looking to Toughen Rules for Midsize Banks
The White House is planning to recommend tougher rules for midsize banks after the collapse of two lenders earlier this month sent tremors through the banking system, reported the Wall Street Journal.
The recommendations, which could be announced as soon as this week, are expected to call for new rules from the Federal Reserve and other agencies, including for banks with $100 billion to $250 billion in assets, the WSJ reported.
The Fed is already reconsidering several rules related to those banks after Silicon Valley Bank and Signature Bank failed. Options include tougher capital and liquidity requirements, along with steps to strengthen annual “stress tests” that assess banks’ ability to weather a hypothetical severe downturn.
The recent concerns about U.S. banks have centered on regional lenders that are perceived to be at risk of customers pulling deposits. Both SVB and Signature had large amounts of uninsured deposits.
- ◦Financing
- ◦Policy/Gov't
