Kyle Campbell covers the Federal Reserve and housing policy for American Banker. Previously, he wrote about institutional investment in real estate for PERE. He has also held staff positions at Real Estate Weekly, the New York Daily News and the Southampton Press.
In a letter to Federal Reserve Chair Jerome Powell, 10 members of the committee demanded answers about how supervisory information was made public.
The Federal Reserve's top regulator cited the financial crisis of 2008 repeatedly in a speech about the merits of new risk-capital standards — proposals that have drawn unprecedented fire from banking trade groups and members of Congress.
The Federal Reserve vice chair for supervision said advancements in technology could put banks in a "constant struggle" to stay ahead of hackers and other bad actors.
During a speech at a community banking research conference, the Federal Reserve Board governor emphasized the importance of an "evidence-based approach" to regulatory policy.
Mary Callahan Erdoes, CEO of asset and wealth management at the megabank, says recent advancements in remote connectivity will lead to a "much better Wall Street than many of us grew up in." She urges women not to let newfound flexibility go away.
Citing Silicon Valley Bank as an example of being ill prepared, Federal Reserve Vice Chair for Supervision Michael Barr says the central bank can only serve as lender of last resort if banks are "ready and able" to borrow.
The Federal Reserve governor said existing reports, including one published by the Fed's inspector general last week, were too limited in scope.
Federal Reserve Chair Jerome Powell said the central bank would not hesitate to take rates to their lower bound again, despite the challenges that rising rates have posed to banks. Economists and policy experts say other parts of the crisis playbook warrant reconsideration.
The Federal Reserve Inspector General's report on the failure of Silicon Valley Bank found that officials at the Federal Reserve Bank of San Francisco wanted to remove the CEO from its board before examiners downgraded SVB's supervisory ratings.
The New Jersey senator, who is a powerful member of the Banking Committee, is facing calls from fellow Democrats to resign. He was released on Wednesday after posting a $100,000 bond.