Joint Press Release
August 29, 2023
Statement by Governor Christopher J. Waller on the Long-Term Debt Requirement Proposal
I support putting the proposal out for comment. Having long-term debt can make it easier to resolve a failing bank and may mitigate risks to financial stability. But I do have concerns about its calibration. More importantly, I am concerned that our regulatory framework for large banks is moving in a direction that does not tailor requirements in a manner consistent with the spirit of the Dodd-Frank Act, as amended by Congress in 2018.
I look forward to reading the comments on these issues.