Pimco's Gross: Regional banks not too big to fail
NEW YORK |
NEW YORK (Reuters) - Bill Gross, manager of top bond fund Pimco, on Thursday said U.S. regional banks don't have the benefit of being perceived by investors and regulators as being too big to fail.
Speaking on CNBC television, Gross said regional banks are not afforded the same kind of access to capital as their larger peers, placing them at a serious disadvantage. They are also less diversified than the bigger money center banks, he added.
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