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Federal Reserve and Lawmakers Eye Bank Rules After Collapse
硅谷银行倒闭后，美联储和立法者开始审视银行法规
The Federal Reserve is facing criticism over Silicon Valley Bank's collapse, with lawmakers and financial regulation experts asking why the regulator failed to catch and stop seemingly obvious risks.
美联储因硅谷银行倒闭而面临批评，立法者和金融监管专家质问，为什么监管机构未能发现并阻止看似显而易见的风险。
That concern is galvanizing a review of how the central bank oversees financial institutions -- one that could end in stricter rules for a range of banks.
这种担忧激起了对央行如何监管金融机构的审查，可能会导致对一系列银行实施更严格的法规。
In particular, the episode could result in meaningful regulatory and supervisory changes for institutions -- like Silicon Valley Bank -- that are large but not large enough to be considered globally systemic and thus subject to tougher oversight and rules.
这一事件尤其可能给硅谷银行等机构带来意义重大的监管和监督改变，这些机构规模庞大，但还不足以被视为能影响全球金融系统，因此会受到更严格的监督和监管。
Smaller banks face lighter regulations than the largest ones, which go through regular and extensive tests of their financial health and have to more closely police how much easy-to-tap cash they have to serve as a buffer in times of crisis.
与最大的银行相比，规模较小的银行面临的监管程度较轻，大银行要对自己的财务健康状况进行定期且广泛的测试，并必须更严格地监控在危机时期，它们必须提供多少易于动用的现金作为缓冲。
Regulators and lawmakers are focused both on whether a deregulatory push in 2018, during the Trump administration, went too far, and on whether existing rules are sufficient in a changing world.
监管机构和立法者既关注特朗普政府在2018年实施的放松监管是否过于放松，也关注现有规则是否足够适应如今不断变化的世界。
While it is too early to predict the outcome, the shock waves that Silicon Valley Bank's demise sent through the financial system,
虽然现在预测结果还为时过早，但硅谷银行倒闭给整个金融体系带来巨大冲击，
and the sweeping response the government staged to prevent it from inciting a nationwide bank run, are clearly intensifying the pressure for stronger oversight.
政府为防止引发全国范围内的银行挤兑而做出全面回应，这些都显然在加大加强监管的压力。
"There are a lot of signs of a supervisory failure," said Kathryn Judge, a financial regulation expert at Columbia Law School, who also noted that it was too early to draw firm conclusions.
"有很多迹象表明存在监督失灵。"哥伦比亚大学法学院的金融监管专家凯瑟琳·贾奇说，她还指出，现在得出确定的结论还为时过早。
"We do need more rigorous regulations for large regional banks that more accurately reflect the risks these banks can pose to the financial system," she said.
"我们确实需要对大型地区性银行实施更严格的监管，从而更准确地反映这些银行可能给金融体系带来的风险。"她说道。
The call for tougher bank rules echoes the aftermath of 2008, when risky bets by big financial firms helped to plunge the United States into a deep recession and exposed blind spots in bank oversight.
要求更严格的银行法规的呼声是2008年金融危机后果的回响，当时大型金融公司的高风险押注导致美国深陷衰退，并暴露了银行监管的盲区。
The crisis ultimately led to the Dodd-Frank law in 2010, a reform that ushered in a series of more stringent requirements, including wide-ranging "stress tests" that probe a bank's ability to weather severe economic situations.
这场危机最终导致2010年出台《多德-弗兰克法案》，这项改革带来了一系列更严格的要求，包括范围广泛的"压力测试"，以考察银行抵御严峻经济形势的能力。
But some of those rules were lightened -- or "tailored" -- under Republicans.
但其中一些法规在共和党人的领导下得到放松--或者说"根据具体情况而有调整"。
Randal K. Quarles, who was the Fed's vice chair for supervision from 2017 to 2021, put a bipartisan law into effect that relaxed some regulations for small and medium-size banks and pushed to make day-to-day Fed supervision simpler and more predictable.
兰德尔·K. 夸尔斯在2017年至2021年期间担任美联储监督副主席，他实施了一项得到两党支持的法律，放松了对一些中小型银行的监管，并促使美联储的日常监督更简单和可预测。
Critics have said such changes could have helped pave the way for the problems now plaguing the banking system.
批评人士说，这些变化可能为目前困扰银行体系的问题铺平了道路。
"Clearly, there's a problem with supervision," said Daniel Tarullo, a former Fed governor who helped shape and enact many post-2008 bank regulations and who is now a professor at Harvard.
"显然，监督存在问题，"前美联储理事丹尼尔·塔鲁洛说，他曾帮助制订并颁布了许多2008年后的银行监管规定，现在是哈佛大学的教授。
"The lighter touch on supervision is something that has been a concern for several years now."
"对监督的放松是几年来一直令人担忧的问题。"
