New York's top financial regulator — Adrienne Harris, director of the state's Department of Financial Services — has been vocal about a number of issues, including cryptocurrency regulation and better and faster bank oversight. And the state of CRE loans.
Harris stated in a recent Bloomberg TV interview that the "banking system is very stable" after the actions federal regulators took in March, closing several banks like Silicon Valley Bank and First Republic Bank in California and Signature Bank in New York.
But then she added that "there's still lots of issues looming," like risks from interest high interest rates, attending unrealized losses, and exposure to commercial real estate loans. "So, the regional banking crisis, I think, is over," Harris added. "The banks are stabilized, but certainly we're mindful of other risks in the system."
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