Curry: Banking Industry ‘Much Stronger’ than Before Crisis

Despite recent drops in the stock market and growing uncertainty surrounding the global financial markets, Comptroller of the Currency Thomas Curry says that the U.S. banking system is more resilient today than in the lead-up to the financial crisis. In an interview with American Banker, Curry pointed to higher industry-wide capital levels, improved liquidity and more robust loss provisioning as signs that the nation’s banks are well-prepared to survive an economic downturn. “Whatever happens with the economy,” Curry said, “we have a much stronger banking industry.”

Curry also discussed the OCC’s plans to issue new guidance to spur mortgage markets in certain cities with low home values, as well as the OCC’s ongoing efforts to raise awareness for higher-risk asset classes such as energy, subprime auto and multifamily loans.