Consumer and mid-sized banks are planning to monitor their internal processes more closely and hold more frequent discussions with regulators as the industry tries to move forward from weeks of turmoil, industry executives say.
Industry leaders were taking stock after the collapses of Silicon Valley Bank and Signature Bank and trying to differentiate solid institutions from troubled ones, executives said at a conference in Las Vegas.
"We are still taking stock of what happened and making sure that we're prepared for what's to come and helping consumers work through that," said Johnson, whose industry association has 73 member banks that held more than in $15 trillion in assets as of 2021. The general view was that the recent bank collapses were "isolated events and unlikely to spread", said an executive from a large lender who declined to be identified because they were not authorized to speak publicly.
Regulators also drew attention to the need for managing risks at non-banks similar to banks. Consumer Financial Protection Bureau Director Rohit Chopra said regulators were focused on maintaining stability of the financial system., which was later bought by a subsidiary of New York Community Bancorp, shook public confidence in banks and prompted unprecedented government action to shore up the sector. A broader S&P index of bank shares has fallen 14% this year.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Amazon loses bid to toss consumer antitrust lawsuitAmazon.com Inc must face consumer claims that its pricing practices artificially drove up the cost of goods sold by other retailers in violation of U.S. antitrust law, a federal judge has ruled.
Read more »
Consumer Products From Plastic Waste - CleanTechnicaQuestions about profitability have always been at the core of the dilemma of converting plastic waste in viable second life products.
Read more »
EUR/USD Forex Signal: Reversal Likely Ahead of Consumer ConfThe EUR/USD price was a bit flat on Tuesday morning as concerns about the banking sector eased and after the relatively strong German business sentiment data.
Read more »
Consumer Reports: Prices have stayed stable while cars have improvedAs cars have become more complex, with regulations demanding better fuel efficiency and safety, it’s easy to assume the price of a new car - which can already feel sky high - must be higher too.
Read more »
US: CB Consumer Confidence Index improves to 104.2 in March from 103.4 in FebruaryUS: CB Consumer Confidence Index improves to 104.2 in March from 103.4 in February – by eren_fxstreet ConsumerConfidence UnitedStates EconomicIndicator Macroeconomics
Read more »
USD/MXN hits a three-week low as the greenback slides despite solid US Consumer dataUSD/MXN dropped and extended its losses to a three-week low in early trading during the New York session. US equities are mixed, while the greenback c
Read more »