OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Senator Warren Calls on Treasury Secretary Yellen to Protect Stability of Financial System from Interest Rate Risks

Press Release

Date: Sept. 14, 2023
Location: Washington, D.C.
Issues: Finance and Banking Government Operations

"The collapse of Silicon Valley, Signature, and First Republic Banks in March 2023 further demonstrated the risks that the Federal Reserve's (Fed) rate hikes posed to banks' balance sheets, and banks' failures to adequately manage that risk. In light of these developments, I seek information about the steps FSOC is taking to respond to three potential threats to the financial system."

BREAK IN TRANSCRIPT

"I am concerned that financial institutions may not be adequately managing these risks particularly in light of reports that banks are planning huge shareholder payouts. I urge FSOC to carefully assess these risks and work swiftly to mitigate them."


Source
arrow_upward