The chair of the Federal Deposit Insurance Corporation wants more aggressive oversight of large regional banks
Martin Gruenberg said the FDIC plans to propose a rule that would require banks with more than $50 billion in assets to provide certain information in the contingency plans they’re required to submit to regulators, outlining what they’ll do in case their institution runs into trouble. He made the remarks on Monday at an event hosted by the Brookings Institution in Washington, DC.
That would mean those banks subject to the new rule would be required to hold an additional two percentage points of capital, or an additional $2 of capital for every $100 of risk-weighted assets. The spring’s bank failures began with the spectacular depositor run on Silicon Valley Bank in March. The FDIC deemed the bank as systemically important, which gave regulators more power to intervene and make all deposits whole.
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