Bauman: The Federal Reserve will require banks to report loan data from non deposit taking financial institutions

According to Dongxin News Agency, the Federal Reserve's Vice Chairman in charge of supervision, Bauman, stated that the Fed will introduce new regulations requiring large banks to report financial information related to the credit they provide to non deposit financial institutions, including total assets, net profit, and leverage ratio, in order to analyze credit underwriting and conduct risk assessments. She pointed out that the existing data classification is too broad to effectively measure risk exposure, and mentioned the phenomenon of loan activities shifting from banks to non deposit financial institutions after the 2008 financial crisis.