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BBCNEWS Asia July 2, 2024



but on capitol hill wednesday, eight us bank ceos said that s unnecessary and issued a warning that new regulations will hurt the economy and credit markets. the rule would have predictable and harmful outcomes to the economy, markets, business of all sizes and american households in ways that the federal reserve has not studied, contemplated or shared. the hearing is part of the senate banking committee s annual oversight of big banks and what a year it s been. regional bank failures, including silicon valley bank and signature bank, dominated the early part of the year. the ceo said wednesday that the industry is on steady footing and that large banks like theirs helped stabilize the industry after early 2020. the industry after early 2023 s failures. the hearing is an opportunity to win favour on capitol hill, especially from moderate democratic senators. but the real audience is the regulators responsible for the final language and implementation of the rule. google ....

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