Donna Borak is the Federal Reserve reporter for American Banker. Based in Washington, her coverage has stretched from covering the White House's plan to reform the government-sponsored enterprises to new global banking regulations, known as Basel III.Previously, she was a business reporter covering the defense industry for The Associated Press in Washington, where she was an APME nominee for her work on the Walter Reed Medical Center scandal. She began her career as a European economics writer for United Press International, where she filed special reports from Brussels and Hong Kong. She is conversant in Arabic, and has a M.S. in journalism from Boston University.
A highly anticipated government report due to be released July 31 is expected to say big banks received less of a subsidy from the perception that they are "too big to fail." But it remains uncertain whether that would continue to be true in a future crisis or if market conditions change.
Regulators on Thursday heeded complaints by financial institutions to provide precise guidance on when they would have to comply with the so-called "Volcker Rule," saying full compliance was not expected before July 21, 2014.