"Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks" - a "special" money printer?
"U.S. banking system remains resilient ... due to reforms that were made after the financial crisis " - more lies.
Majority of US banks are not required to follow the NSFR or LCR standards at all. Fed took advantage of the fact that the Basel Accords are only internationally agreed to apply to “large, internationally active” banks. While most jurisdictions apply the Basel rules to their entire banking system anyway, the US has a strong and powerful community bank lobby, so only the largest international banks were subject to the full Basel NSFR requirements.
"U.S. banking system remains resilient ... due to reforms that were made after the financial crisis " - more lies.
Majority of US banks are not required to follow the NSFR or LCR standards at all. Fed took advantage of the fact that the Basel Accords are only internationally agreed to apply to “large, internationally active” banks. While most jurisdictions apply the Basel rules to their entire banking system anyway, the US has a strong and powerful community bank lobby, so only the largest international banks were subject to the full Basel NSFR requirements.