© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI BRIEF: Fed's Bostic Ready For June Pause In Rate Moves

FED'S DALY: ON RRP FACILITY ABSOLUTELY WORKING THE WAY WE WANT

MNI BRIEF: Daly Says Prudent For Fed To Retain Optionality

EZ/UK Bond Supply Calendar: Netherlands, UK & Germany due Tues

EZ/UK T-Bill Calendar: Austria 3/5-month Bill Auction Tuesday

Consumer Confidence Largely Stable in May

MNI: Canada Resilient To US Debt Ceiling Clash- Freeland

MNI BRIEF: BOC Defends 2% Target, Senate Asks About Raising It

MNI INTERVIEW: Canada Budget Keeps BOC On Pause: Ex Official

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Market News Topics

WH To Work Closely With Congress To Strengthen Rules For Larger Banks

US
HomepagePolitical RiskPolitical Risk BulletBulletMarketsFixed Income NewsForeign Exchange NewsUSPolitical Market News

White House Press Secretary Karine Jean-Pierre has told reporters that the White House will "work closely" with Congress to increase supervision of the banking sector.

  • Jean-Pierre: We have seen bipartisan support on [the Warren-Porter bill]… so we're gonna work closely at that bill and other regulatory changes as well."
  • Jean-Pierre: "Unfortunately the previous administration rolled back some of the regulations" of the 2018 banking bill, "that would have been incredibly important as we move forward."
  • Jean-Pierre: "As the President said, Congress and regulators must strengthen those rules for larger banks so this doesn't happen again... We will continue to work with Congress on what else can be done... there is quite a bit we can do administratively but without Congress we can't fully deal with this issue."
  • It is unclear if the Warner-Porter bill has enough support amongst centrist Democrats. Senator Mark Warner (D-VA) said yesterday: “I frankly think that traditional, prudential regulation – safety and soundness – should have caught this. I’d like to know why that didn’t happen, because interest rate mismatch is ‘Banking 101.’”
174 words

To read the full story

Why Subscribe to

MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

White House Press Secretary Karine Jean-Pierre has told reporters that the White House will "work closely" with Congress to increase supervision of the banking sector.

  • Jean-Pierre: We have seen bipartisan support on [the Warren-Porter bill]… so we're gonna work closely at that bill and other regulatory changes as well."
  • Jean-Pierre: "Unfortunately the previous administration rolled back some of the regulations" of the 2018 banking bill, "that would have been incredibly important as we move forward."
  • Jean-Pierre: "As the President said, Congress and regulators must strengthen those rules for larger banks so this doesn't happen again... We will continue to work with Congress on what else can be done... there is quite a bit we can do administratively but without Congress we can't fully deal with this issue."
  • It is unclear if the Warner-Porter bill has enough support amongst centrist Democrats. Senator Mark Warner (D-VA) said yesterday: “I frankly think that traditional, prudential regulation – safety and soundness – should have caught this. I’d like to know why that didn’t happen, because interest rate mismatch is ‘Banking 101.’”