CryptoGlobe on Nostr: Ex-SEC Chief Warns: U.S. Banks Teeter on Edge Amid Real Estate Turmoil ========== On ...
Ex-SEC Chief Warns: U.S. Banks Teeter on Edge Amid Real Estate Turmoil
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On February 12, Jay Clayton, the former Chairman of the Securities and Exchange Commission (SEC), joined CNBC’s “Squawk Box” to offer his insights into the current state of the commercial real estate sector, its potential repercussions on banks, and the overall economy. Clayton highlighted the recent turbulence faced by New York Community Bancorp as an example of the challenges within the commercial real estate market. He discussed the systemic risks posed by the sector's difficulties, particularly for smaller banks. Clayton also mentioned the importance of hedging and adjusting to mitigate shocks that could ripple through the financial system. He expressed his belief in an implied guarantee for excess deposits in times of financial distress. The interview also touched on the recent Delaware court ruling on Elon Musk's pay package, raising questions about the process and independence of board decisions. Clayton concluded by urging caution and adaptability in policy adjustments, emphasizing the need for the Federal Reserve to reconsider its timing in policy changes.
#JayClayton #Sec #CommercialRealEstate #BankingSector #SystemicRisks #GovernmentGuarantees #ElonMusk #DelawareCourtRuling #FinancialSystem #FederalReserve
https://www.cryptoglobe.com/latest/2024/02/u-s-economy-on-thin-ice-former-sec-chair-jay-clayton-exposes-impending-bank-crisis/
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On February 12, Jay Clayton, the former Chairman of the Securities and Exchange Commission (SEC), joined CNBC’s “Squawk Box” to offer his insights into the current state of the commercial real estate sector, its potential repercussions on banks, and the overall economy. Clayton highlighted the recent turbulence faced by New York Community Bancorp as an example of the challenges within the commercial real estate market. He discussed the systemic risks posed by the sector's difficulties, particularly for smaller banks. Clayton also mentioned the importance of hedging and adjusting to mitigate shocks that could ripple through the financial system. He expressed his belief in an implied guarantee for excess deposits in times of financial distress. The interview also touched on the recent Delaware court ruling on Elon Musk's pay package, raising questions about the process and independence of board decisions. Clayton concluded by urging caution and adaptability in policy adjustments, emphasizing the need for the Federal Reserve to reconsider its timing in policy changes.
#JayClayton #Sec #CommercialRealEstate #BankingSector #SystemicRisks #GovernmentGuarantees #ElonMusk #DelawareCourtRuling #FinancialSystem #FederalReserve
https://www.cryptoglobe.com/latest/2024/02/u-s-economy-on-thin-ice-former-sec-chair-jay-clayton-exposes-impending-bank-crisis/