Big U.S. banks' funding advantage reduced, could rise in crisis-official
WASHINGTON, July 31
WASHINGTON, July 31 (Reuters) - The biggest U.S. banks' borrowing cost advantage over smaller competitors appears to have been reduced or eliminated since the 2007-2009 financial meltdown but could return in a crisis situation, a U.S. government official said on Thursday.
Lawrance Evans, director of financial markets at the U.S. Government Accountability Office, said in planned remarks for a congressional hearing later on Thursday that a new report also found that industry participants believe the 2010 Dodd-Frank Wall Street oversight law reduced the likelihood the federal government would bail out big banks in a future crisis. (Reporting by Emily Stephenson; Editing by Bill Trott)
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.