The Federal Reserve's top regulator told the Senate Banking Committee that new standards are needed for banks with more than $100 billion in assets standards that the Fed has broad discretion to rewrite.
WASHINGTON (Reuters) - The U.S. government will continue using its tools to prevent contagion in the banking sector, as warranted, to ensure Americans' deposits are safe, Treasury Undersecretary for Domestic Finance Nellie Liang will tell the U.S. Congress on Tuesday. | 07:20pm
Vice Chair for Supervision Michael Barr, who testifies before the Senate on Tuesday, says supervisors knew of issues at Silicon Valley Bank for years before its collapse.