May 14, 2021

Statement on PNC/BBVA Application by Governor Lael Brainard

The increases in banking concentration in the $250 to $700 billion asset size category, where common-sense safeguards have been weakened, raise some concerns, and it might be helpful to undertake a broader review of our framework, since we know from experience even noncomplex banks in this size range can pose risk to the financial system when they encounter financial distress.

Last Update: May 14, 2021