Federal Reserve Board Governor Michelle W. Bowman criticized proposed new capital requirements for banks with more than $100 billion in assets, arguing that the increases were not supported by facts and analysis and could lead to reduced credit availability and increased cost of credit.
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FDIC Chair Martin J. Gruenberg and Federal Reserve Board Governor Michelle W. Bowman considered community banking reforms and applying lessons learned from recent bank failures.
The FDIC reminded insured depository institutions on requirements for reporting estimated uninsured deposits.
FDIC Chair Martin J. Gruenberg highlighted agency initiatives to promote inclusion within the U.S. banking system.
The FDIC set a comment deadline of July 21, 2023 for proposed special assessments to recover losses to the Deposit Insurance Fund that resulted from the FDIC making whole all uninsured depositors of Silicon Valley Bank and Signature Bank.