U.S. Senate’s banking panel chairman: Congress unlikely to tighten banking rules

WASHINGTON (Reuters) – The U.S. Congress should enact financial regulations to strengthen stress tests and capital and liquidity standards for banks, Senate Banking Committee Chairman Sherrod Brown said on Tuesday, but he added prospects remained low for such a step.

Brown, an Ohio Democrat, told Bloomberg TV that prospects were low for the Congress to stiffen financial regulations after the failures of Silicon Valley Bank and Signature Bank.Brown added that he hoped the Federal Reserve would not raise rates when it meets March 21 and 22.

(Reporting by Caitlin Webber; editing by Kanishka Singh)