Folks stroll sporting masks exterior The Federal Reserve Financial institution of New York in New York Metropolis, U.S., March 18, 2020. REUTERS/Lucas Jackson/File Photograph/File Photograph
Sept 18 (Reuters) – A gaggle of financial institution regulators appointed by U.S President Joe Biden is contemplating new guidelines which would require huge regional banks so as to add monetary cushions that can be utilized in occasions of disaster, the Wall Road Journal reported on Sunday.
The brand new steps embody the regional banks elevating long-term debt that can assist take up losses in circumstances of insolvency, the WSJ reported including three folks aware of the matter.
The WSJ report comes over every week after U.S. Federal Reserve chief Michael Barr mentioned that there quickly could also be more durable guidelines on massive regional lenders after a ‘holistic’ assessment of financial institution capital necessities is concluded. learn extra
(This story refiles to clarify WSJ attribution in headline)
Reporting by Rachna Dhanrajani in Bengaluru, Enhancing by William Maclean
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