US Treasury and Regulators Propose Tougher Oversight of Non-Bank Financial Companies.
The Treasury Department's risk oversight arm has proposed new tools for spotting issues in the US financial system, following the collapse of Silicon Valley Bank and Signature Bank. The Financial Stability Oversight Council has approved a framework on financial stability for public feedback, which will offer Americans more transparency into the council's operations and how it identifies systemic problems. The Treasury Department, along with the Federal Deposit Insurance Corp., backstopped depositors as they feared ripple effects from the collapse of SVB and Signature Bank, which catered in part to digital currency exchanges.