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Fed's Bowman Calls for Stronger Regulatory Measures in Banking Industry
Summary: Federal Reserve Board Governor Michelle Bowman, speaking at an event in Austria, stated that the U.S. banking industry needs stronger regulatory measures, rather than just increasing capital requirements, as the latter may hinder lending and competition. Bowman pointed out that we need to assess whether examiners have the appropriate tools and support to identify significant ...
Federal Reserve Board Governor Michelle Bowman, speaking at an event in Austria, stated that the U.S. banking industry needs stronger regulatory measures, rather than just increasing capital requirements, as the latter may hinder lending and competition. Bowman pointed out that we need to assess whether examiners have the appropriate tools and support to identify significant issues and that we need to take corrective actions immediately. Increasing capital requirements cannot address concerns surrounding the effectiveness of regulation. Bowman also called for an independent third-party to investigate the recent bank failures in the United States.
Author: Katie Lin
Tags: Bowman,Federal Reserve,Michelle Bowman
Link: Fed's Bowman Calls for Stronger Regulatory Measures in Banking Industry [Copy]
