In response to last month’s turbulence in the banking industry, financial regulators on Friday proposed a more comprehensive approach in identifying and addressing threats to financial stability, including closer scrutiny of nonbank financial companies. US Treasury Secretary Janet Yellen announced a new framework proposed by the Financial Stability Oversight Council that outlines the vulnerabilities in the financial system and the tools regulators can use to address those risks.
“The designation tool serves as an important part of our post-Global Financial Crisis defense,” Yellen said. “It is an important preventative tool to address systemic risks that may arise from a nonbank financial firm whose activities or distress could threaten the financial system.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Polestar's new SUV has no back window | CNN BusinessPolestar, the electric vehicle brand spun off from Volvo, just unveiled a new SUV that will be for sale in the United States next year. It finally does away with something that's become increasingly pointless in new vehicles, anyway: The back window. Very good car Far more confortable an reliable than the Tesla 👌 Who has this kind of money to spend on a vehicle Not me.
Source: CNN - 🏆 4. / 95 Read more »
Accessing credit has become harder, Fed's Beige Book shows | CNN BusinessBusinesses across the country said banks have tightened their lending standards since last month's banking crisis, according to an economic survey from the Federal Reserve released Wednesday. Wait until hedge funds have to close naked positions. But Biden says everything's fine.... Biden's America
Source: CNN - 🏆 4. / 95 Read more »
Why Netflix delayed its password sharing crackdown | CNN BusinessNetflix on Tuesday said it will move forward with a broad rollout of its paid account sharing option in the second quarter, after having delayed it during the prior quarter.
Source: ALNewsNetwork - 🏆 583. / 51 Read more »