Joe Biden is calling on banking regulators to toughen the supervision and regulation of large regional banks, as the White House announced reforms it would back in the wake of the collapse of Silicon Valley Bank this month.
The US president’s move comes as policymakers in Washington are shifting from the emergency response to the recent banking crisis to considering new measures to bolster the financial system in the long term.
The White House said federal regulators, in consultation with the Treasury department, should consider rolling back Trump-era rules that loosened liquidity and capital requirements for banks with between $100bn and $250bn in assets.
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