Powell: Nonbanks Need Structural Reforms, Not Fed Backstop

American Banker, Jan. 10, 2023–Kyle Campbell (subscription)
Federal Reserve Chair Jerome Powell said Tuesday that what big banks were to the 2008 financial crisis, nonbank financial institutions are to the pandemic era — but he drew the line on how far to carry that comparison.
https://www.americanbanker.com/news/powell-nonbanks-need-structural-reforms-not-fed-backstop