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, reports Reuters.
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.
US bank regulators for new rules for regional banks in times of crisis
FE Team | Published: September 18, 2022 22:39:07
US bank regulators for new rules for regional banks in times of crisis
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