Federal Reserve officials meet with banking experts to discuss regulatory reforms

According to Golden Finance, on Tuesday, the Federal Reserve held a one-day meeting at its headquarters to continue its efforts to comprehensively revise banking rules. At the meeting, regulatory officials, bankers, industry lawyers, and other experts discussed a series of stricter banking regulations implemented after the 2008 financial crisis and how to improve these regulations. The result could save large banks billions of dollars in capital costs, they argue, allowing the banking industry to engage in more lending and other activities, but skeptics warn that this could lower banks' resilience to future shocks. We need to ensure that all different parts of the capital framework work effectively together. Doing so will help maintain a safe, sound, and efficient banking system that benefits the people we serve, "Federal Reserve Chairman Powell said in his opening remarks. (Xinhua Finance)