ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

U.S. regulators have tools to handle banking turmoil: ex-comptroller

Fed response to SVB collapse bogged down by legal restrictions, Eugene Ludwig says

The collapse of Silicon Valley Bank has fueled turmoil among U.S. regional banks.   © Reuters

NEW YORK -- As the string of U.S. regional bank failures in recent months spurs talk in Congress about tougher regulation, former Comptroller of the Currency Eugene Ludwig argues that regulators "have more than enough authority" to handle the problem.

Ludwig headed the Office of the Comptroller for the Currency, the agency responsible for regulating national banks, under President Bill Clinton, steering the response to a credit crunch in the early 1990s. He sees such a crunch as a "genuine potential problem" now, but one that can be stemmed through tools like increased deposit insurance and expanded lending by the Federal Reserve.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more