Yellen Advocates for Strong Financial Regulation Amidst Banking Challenges

Treasury Secretary Janet Yellen underscores the need for resilient financial systems and criticizes previous administration's deregulation efforts.

Yellen emphasized the importance of maintaining a resilient financial system through thoughtful regulation at the U.S. Treasury Market Conference.
She criticized the Trump administration for weakening the Financial Stability Oversight Council, impacting financial stability efforts.
Yellen highlighted the need for greater supervisory attention on banks with less stable deposits and regulations accounting for unrealized losses on securities.
She noted that the 2023 banking crisis revealed core weaknesses that still need to be addressed to prevent future financial instability.
Yellen also discussed the growing importance of nonbanks and the need for regulations to address risks from cybersecurity and artificial intelligence.