Fed Chair Says 'Fully Prepared' To Reach Banks Below $250B

Law360 (March 22, 2018, 7:11 PM EDT) -- If Congress raises the asset size threshold for automatically applying enhanced prudential standards to banks, the Federal Reserve is “fully prepared” to subject some banks beneath that threshold to heightened regulatory scrutiny, too, Federal Reserve Chairman Jerome Powell said Wednesday.

Powell’s remarks came during a press conference after his first meeting as head of the Federal Open Market Committee, the Fed’s interest rate-setting body, and followed on the heels of the U.S. Senate’s passage last week of a bipartisan banking bill that would lift the asset size threshold for tougher bank oversight from its current $50 billion level to $250 billion,...

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