One Year Later: Lessons from the March 2023 Bank Failures

The Brookings Institution‘s Hutchins Center on Fiscal & Monetary Policy and Center on Regulation and Markets (CRM) hosted a day-long event on March 5, 2024, to reflect on the lessons learned from the March 2023 bank failures.

The event kicked off with a panel discussion focusing on the shortcomings identified in bank supervision, the lender of last-resort function, and bank risk management practices that contributed to the 2023 crisis. This panel aimed to explore the best ways to address these weaknesses.

Alexa Philo, senior policy analyst, banking, systemic risk, and economic & racial justice at Americans for Financial Reform, participated in the second panel, titled “Resolving Failing Banks.” This panel explored the weaknesses exposed in the current approach to resolving failing banks and potential solutions.

This event was part of CRM’s Series on Financial Markets and Regulation.

Watch the entire event here!