Global Banking Monitor

Thursday, June 20, 2024

Stripe employees get to sell $1bn of shares

It's good news for the Stripe employees...

Strategies for Upskilling Your Workforce in an AI-Driven Economy

In an era where artificial intelligence (AI)...

Five Strategies for Enhancing Internal Communications in Banks

In the fast-paced world of banking, effective...
HomeBankingWall Street's call for...

Wall Street’s call for bank rescues collides with Washington’s realities

The banking crisis set off by the swift collapse of Silicon Valley Bank (SIVB.O) has exposed a sharp disconnect between Washington and Wall Street. Bankers want faster, more aggressive action to shore up the industry, while the Biden White House and regulators argue they’ve done what they can within the limits of the law.

Some critics are asking whether the Biden administration could have contained the crisis with aggressive actions at the start.

“Policymakers have done some things that are helpful, but they haven’t broken out the big bazooka yet and we have not passed the point of major vulnerabilities,” said Edward Campbell, co-head of the multi-asset team at PGIM Quantitative Solutions. “They’re going to have to do more.”

Source : Wall Street’s call for bank rescues collides with Washington’s realities

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