The Biden White House is calling on federal banking regulators to institute a number of changes intended to provide more oversight on large regional banks and reduce the risk of a future banking crisis
. The administration announced its regulatory push on Thursday in response to the recent collapse of two large regional banks, Silicon Valley Bank and Signature Bank, and subsequent market concerns about the potential for contagion throughout the industry.
” The president wants to “reduce the transition periods for applying common-sense safeguards to growing banks that are projected to exceed the $100 billion threshold” and “strengthen supervisory tools, including stress testing, to make sure banks can withstand high interest rates and other stresses,” according to the fact sheet.
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