U.S. Treasury Secretary Highlights Impact of Regulatory Reforms on Banking

According to Odaily, U.S. Treasury Secretary Besent has stated that the regulatory reforms implemented by U.S. President Donald Trump's administration are expected to unlock an additional $2.5 trillion in lending capacity for banks. Besent emphasized that during economic downturns, reliance on private credit tends to be pro-cyclical. The growth in private credit is attributed to the stringent regulations imposed on the banking system.