Fed’s Bowman: Basel has driven banks out of traditional loans
Vice-chair for supervision renews call to bring mortgage lending back to banking sector
The post-2008 regulatory framework in the US has “over-calibrated” when it comes to traditional lending activities, such as granting mortgages, and enabled these activities to move to the non-bank sector, the US Federal Reserve’s vice-chair for supervision has said.
In a fireside chat at the New York Bankers Association on March 5, Michelle Bowman argued that the adoption of Basel III standards in the US after the global financial crisis had overly restricted banks’ ability to conduct “bread-and
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