Rodgin Cohen Discusses Banking Sector Under Coronavirus on Bloomberg TVApril 20, 2020
S&C senior chairman Rodgin Cohen appeared on "Bloomberg Daybreak: Americas" to discuss the strength of the banking sector in the era of the coronavirus, as well as whether the administration has done enough to provide financial relief to small and medium-sized businesses. "At this point we see almost all the banking system in a strong, albeit inevitably pressured position in view of the Covid-19 crisis. Thanks to regulators, banks came into this with very strong capital ratios,” Rodge told host Alix Steel. As to whether the government should give banks further incentives to lend, Rodge said: "Right now we still have a fair amount of firepower left" in terms of assistance available under existing programs, but he added that more stimulus now would make sense. "I'm a believer that you solve major problems at the outset, not afterwards."
Rodge also discussed the issues that will likely hamper bank M&A activity in the coming months, and whether U.S. banks should be restricted from paying dividends. To watch the full interview, click here.