The Federal Reserve is considering tougher rules and oversight for midsize banks similar in size to Silicon Valley Bank, which collapsed suddenly last week, according to a source familiar with the matter
The U.S. Federal Reserve building is pictured in Washington, March 18, 2008. REUTERS/Jason Reed/File Photo
March 14 - The Federal Reserve is considering tougher rules and oversight for midsize banks similar in size to Silicon Valley BankThe bank's collapse set off fears across the financial system, drove an extraordinary government effort to reassure depositors and backstop the system, and set off debate about reversing previous rule easing for regional banks.
Now, a review of the $209 billion bank's failure being conducted by Fed Vice Chair for Supervision Michael Barr could lead to strengthened rules on banks in the $100 billion to $250 billion range, the source told Reuters. That review of Fed supervision and regulation of the bank will be released by May 1, and augments a review of bank capital rules by Barr already underway.
The Wall Street Journal reported on Tuesday the Fed was reconsidering regulations regarding midsize banks, which could lead to more stringent capital and liquidity requirements and potentially beefed up annual "stress tests."
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