May 1, 2023 | Banking, Capital Markets, Financial Stability, Statement
May 1, 2023The final round of Basel III reforms (“Basel Finalization”)1 may significantly increase U.S. bank capital requirements. Any such increase would come at a time when U.S. bank capital levels are already very high and would problematically coincide with the...
Mar 21, 2023 | Banking, Financial Stability, Op-Ed
The Silicon Valley Bank crisis appears to demonstrate the danger of the Federal Reserve not properly performing one of its central functions: acting as a lender of last resort during a run. By not stemming the run at SVB, the Fed opened a Pandora’s box, risking a...
