Regulators Seek Overhaul of US Bank Regulations, Including Crypto Risks
The Federal Deposit Insurance Corporation (FDIC) plans to propose comprehensive changes to how large regional banks prepare living wills in the event of their failure, according to FDIC Chairman Martin Gruenberg. The proposed rule would require banks to provide a strategy that is not dependent on an over-the-weekend sale and would give the FDIC more options when overseeing a failed bank's receivership. The proposal would also require banks to identify parts that could be sold separately, potentially reducing their size and expanding the universe of possible acquirers. The changes aim to strengthen oversight of the banking system following a series of collapses earlier this year.