Better supervision needed after bank failures: US Fed chair
Madrid (AFP) - US Federal Reserve Chair Jerome Powell said Thursday that stronger regulation and greater agility was required in supervising the banking sector following a string of high-profile failures earlier this year. "We need to strengthen both regulation and supervision," Powell told a banking conference in Madrid, referring to the turmoil that hit the banking sector in March. On March 10, California lender Silicon Valley Bank (SVB) collapsed, with its fall rapidly followed by the failure of another regional US lender and the merger under pressure of Switzerland's Credit Suisse with do...