WASHINGTON (MarketWatch) — Federal Reserve Chairwoman Janet Yellen on Wednesday said the financial condition of the top U.S. banks has “strengthened considerably” since the financial crisis as she outlined steps the central bank is considering to make bigger banks have larger cushions and have smaller banks face less stringent requirements. The eight largest global systemically important banks have seen an increase of nearly $800 billion in common equity capital since 2008, Yellen said. “We must carefully monitor the impact of the regulatory changes we have made and remain vigilant regarding the potential emergence of new risks to financial stability,” Yellen said in prepared remarks before the House Financial Services Committee. Yellen made no mention of the recent Wells Fargo scandal in her prepared remarks.
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