【Federal Reserve officials meet with banking experts to discuss regulatory reform】Golden Finance reported that on Tuesday, the Federal Reserve held a one-day meeting at its headquarters, continuing its commitment to comprehensive reforms of banking rules. During the meeting, regulatory officials, bankers, industry lawyers, and other experts discussed a series of stricter banking regulations implemented after the 2008 financial crisis and how to refine these regulations. The outcome could save large banks billions of dollars in capital costs, as they argue this would enable the banking industry to engage in more lending and other activities, but skeptics warn that it could reduce banks' resilience in future shocks. “We need to ensure that all different parts of the capital framework work effectively together. Doing so will help maintain a safe, sound, and efficient banking system that benefits the people we serve,” said Federal Reserve Chairman Powell in his opening remarks. (Xinhua Finance)
