Was a big US bank close to collapse in 2023?
PNC’s Bill Demchak says it was. And the data suggests he was talking about BofA
A panel on reform of US bank capital rules was meandering towards a predictable conclusion on July 22, when one member of the audience decided to weigh in.
The room had heard a string of speakers arguing that the Federal Reserve’s methodology for assessing systemic risk had inflated a capital surcharge for the largest US banks, when the moderator collected one final question from the floor. It
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