Bessent says Treasury to play bigger role so lenders can finance growth

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Bessent says Treasury to play bigger role so lenders can finance growth - Business Standard

Quick Summary:

Bessent's remarks were short on specific proposed changes to banking regulations or capital requirements, but he said that the Trump administration would look at the capital buffer framework for large banks to ensure that it's consistent with law and acts as an appropriate backstop.

We should not outsource decision making for the United States to international bodies," he said, adding that the US should conduct an analysis tailored to its interests, and the US can "borrow selectively from the Basel Endgame standards.

He said that his principles for regulation should derive from a clear statutory mandate, including safety and soundness, mitigating risk and consumer protection."Second regulation should be efficient.