Yellen Suggests Possibility of Further Bank Consolidation in the US
US Treasury Secretary Janet Yellen said Wednesday it would not be surprising to see further consolidation in the banking sector, as some are experiencing pressure on earnings.
In an interview on CNBC, Yellen also said that banks would face some challenges relating to commercial real estate in an environment of higher interest rates and with remote work affecting demand for office space.
But the onetime Federal Reserve chief maintained that “the level of capital and liquidity in the banking system is strong,” and banks should be able to handle the strain.
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