U.S. Senate's banking panel chairman: Congress unlikely to tighten banking rules By Reuters

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U.S. Senate's banking panel chairman: Congress unlikely to tighten banking rules

Stock Markets Mar 14, 2023 06:11PM ET

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U.S. Senate's banking panel chairman: Congress unlikely to tighten banking rules

© Reuters. FILE PHOTO: U.S. Senator Sherrod Brown (D-OH) listens to U.S. Treasury Secretary Janet Yellen give an opening statement before a Senate Banking, Housing and Urban Affairs Committee hearing on “Financial Stability Oversight Council Annual Report to Congr

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WASHINGTON (Reuters) - The U.S. Congress should enact financial regulations to strengthen stress tests and capital and liquidity standards for banks, Senate Banking Committee Chairman Sherrod Brown said on Tuesday, but he added prospects remained low for such a step.

Brown, an Ohio Democrat, told Bloomberg TV that prospects were low for the Congress to stiffen financial regulations after the failures of Silicon Valley Bank and Signature Bank (NASDAQ:SBNY).Brown added that he hoped the Federal Reserve would not raise rates when it meets March 21 and 22.

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Comments (2)

Jimmy don Snyder Mar 14, 2023 7:32PM ET

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stop being so greedy.

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Maximus Maximus Mar 14, 2023 6:25PM ET

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well, they have to tighten the rules and preferably break up the biggest banks, or this will happen ad nauseam..

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U.S. Senate's banking panel chairman: Congress unlikely to tighten banking rules

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