What the Regional Bank Failures of 2023 Reveal About Ending Too Big to Fail
Manage episode 433141152 series 3394182
Art Wilmarth, Professor Emeritus of Law at the George Washington University Law School, reflects on the regional banking crisis of spring 2023 and how decisions made by regulators to resolve Silicon Valley Bank, Signature Bank, First Republic Bank, and Credit Suisse reveal that we have still not solved the Too Big to Fail problem.
Lee’s X: @leereiners
Lee’s Website: www.leereiners.com
Related Links:
The FDIC’s resolution plan for failed megabanks is an empty promise: https://www.americanbanker.com/opinion/the-fdics-resolution-plan-for-failed-megabanks-is-an-empty-promise
Regulators should reject big-bank arguments against stronger capital requirements: https://thehill.com/opinion/4715182-regulators-should-reject-big-bank-arguments-against-stronger-capital-requirements/
We Need a New Glass-Steagall Act to End the Toxic Symbiosis Between Universal Banks and Shadow Banks, Which Professor Corrigan Has More Fully Revealed: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4794680
Statement by Martin J. Gruenberg, Chairman, Federal Deposit Insurance Corporation on Title 1 Resolution Plan Feedback Letters for 8 U.S. GSIBs: https://www.fdic.gov/news/speeches/statement-martin-j-gruenberg-chairman-federal-deposit-insurance-corporation-title-1
Martin J. Gruenberg, Chairman, FDIC Lessons Learned from the U.S. Regional Bank Failures of 2023 Florence School of Banking and Finance: https://www.fdic.gov/news/speeches/martin-j-gruenberg-chairman-fdic-lessons-learned-us-regional-bank-failures-2023
US regulator criticises Swiss handling of Credit Suisse as ‘unhelpful’: https://www.ft.com/content/9fb79310-b8e4-47d8-99cf-a7630eae59e7
FDIC Board of Directors Approves Final Revised Rule to Strengthen Resolution Planning for Large Banks: https://www.fdic.gov/news/press-releases/fdic-board-directors-approves-final-revised-rule-strengthen-resolution-planning
Overview of Resolution Under Title II of the Dodd-Frank Act: https://www.fdic.gov/sites/default/files/2024-04/spapr1024b_0.pdf
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