In the wake of the failure of several regional banks, lawmakers are furiously at work drafting new bills to give regulatory authorities more control over banks. But some experts say that bank regulators already had all the power they needed, but failed to use it effectively. “Every time we have a crisis on our hands,…
Bank Regulators Want New Powers to See What Many Say Should Have Been Obvious
June 24, 2023
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Yellen Warns Next Crisis Could Come From ‘Shadow Banks’ and Regulators Must Act
Treasury Secretary Janet Yellen on Thursday said banking rules may need to be tightened after the recent failures of Silicon Valley Bank (SVB) and Signature Bank, while warning of structural vulnerabilities that must be addressed in the “shadow bank” sector that includes things like hedge funds and money market funds. In remarks prepared for delivery…
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