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Pennsylvania Ag News Headlines |
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Hammer: Pennsylvania Financial Institutions' Supervision
Pennsylvania Ag Connection - 03/21/2023
On Monday, Pennsylvania Acting Secretary of Banking and Securities Sarah Hammer released the following statement in regards to state's financial institutions. The statement was in response to recent problems with two other financial institutions.
The statement by Hammer follows similar ones made in other states by financial oversight administrators.
Hammer said, "The Pennsylvania Department of Banking and Securities works to promote the safety and soundness of financial institutions and compliance with statutory requirements that provide protections to Pennsylvania residents. To protect Pennsylvanians, the Department carefully monitors and examines Pennsylvania chartered banks for capital adequacy, asset quality, management, earnings, liquidity, and sensitivity. The Department continues to work with federal regulators to protect Pennsylvanians and their finances and is monitoring the current situation unfolding in the financial sector closely."
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