In his March 7 testimony before the Senate Banking Committee, Federal Reserve Chair Jerome Powell stated that the Fed has identified and is monitoring banks holding “high commercial real estate concentrations.” While he anticipates some bank failures, they are not expected among the larger banks and do not pose a systemic risk. His statements follow on Treasury Secretary Jane Yellen’s similar comments last month, anticipating pain among banks holding CRE, but that the situation will be “manageable.”
Fed Chair Powell Acknowledges CRE Poses Non-Systemic Threat
Published on March 15, 2024
Recent News
Rental Homes Constructed at Record Pace in 2023
May 17, 2024
CPI Finds Inflation Slowing in April
May 17, 2024
FSOC Report: Risks of Non-Bank Mortgage Companies
May 17, 2024
Prudential Regulators Testify Before HFSC and SBC
May 17, 2024