Economy

US bank regulators study new rules for regional banks in times of crisis

US bank regulators study new rules for regional banks in times of crisis

(Reuters) – A group of bank regulators appointed by US President Joe Biden is considering new rules that would require major regional banks to add financial cushions that can be used in times of crisis, the Wall Street Journal reported on Sunday.

The new steps include regional banks raising long-term debt that would help absorb losses in insolvency, the Wall Street Journal reported, adding three people familiar with the matter.

The Wall Street Journal report comes a week after US Federal Reserve Chairman Michael Barr said there could soon be stricter rules on major regional lenders after completing a “comprehensive” review of bank capital requirements.

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