Feds Pledge Support for (Private) Banks
The latest from Washington is that the government will offer a “temporary capital buffer” to keep banks in business.
While speculation about bank nationalization grows, regulators reinforced their preference that banks remain private entities. We’re getting some mixed signals, since they also promise to prop up banks that are too big to fail. According to MarketWatch:
“Treasury, Federal Reserve and other bank regulators asserted that no ‘systemically important’ financial institution will be allowed to fail”.
This week we should see more headlines as bank stress tests begin. Optimists hope the tests will reassure us that the banks are safe. Others see it as a step towards finding out how the sausage was made and how bad they really are.
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