US lenders should review plans for their funding needs to make sure they have access to a range of liquidity sources during times of stress, according to top banking regulators.
Banks should maintain “actionable” contingency plans and focus on liquidity risk management, agencies including the Federal Reserve and the Federal Deposit Insurance Corp. said Friday in an addendum to a joint statement. The issue was spotlighted by the collapses of several lenders, including Silicon Valley Bank, earlier this year.
Read More : US Regulators Instruct Banks to Strengthen Contingency Funding Plans