WASHINGTON, March 30 — The White House is preparing to release more of its promised plans to strengthen US bank oversight as soon as this week after Silicon Valley Bank’s collapse of earlier this month, according to a person familiar with the preparations.

President Joe Biden, a Democrat, is expected to push for rules to be reinstated for banks with between US$100 billion and US$250 billion (RM442 billion to RM1.11 trillion) that were deregulated by Congress and the Federal Reserve during then-Republican President Donald Trump’s administration, according to people familiar with the matter.

The White House declined to comment. Officials had previously said their reforms would be announced in the coming days.

The measures, which are still being hatched, are likely to fall short of broad changes to existing law. The White House is sceptical that such measures can win passage in a closely divided Congress.

Instead, they would require implementing by the Fed, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency.

A variety of other steps could include raising bank capital requirements, as well as strengthening those banks’ stress tests and plans for how they could be safely wound down, analysts said. — Reuters