2023-04-28 15:19:00
Federal Reserve Vice Chairman Barr has called for an overhaul of how the Fed oversees U.S. financial institutions following the failure of Silicon Valley Bank (SVB). Mr. Barr attributed the bankruptcy to poor risk management and a lack of oversight by financial regulators.
Vice Chairman Barr was announced on the 28threportIn a letter attached to , the Fed said it would review rules that apply to financial institutions with more than $100 billion in assets, including stress tests and liquidity requirements. He said the SVB bankruptcy highlighted the need for tougher standards for a wider range of financial institutions.
Barr also said regulators might require additional capital and liquidity or limit share buybacks, dividend payments and executive compensation for companies with poor capital planning and risk management. pointed out that there is
news-rsf-original-reference paywall">Original title:Fed Seeks Sweeping Changes to Bank Rules in Aftermath of SVB(excerpt)
(Update with additions from the second paragraph onwards)
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