Big banks need tougher audits: US regulator

US banking supvervisors should beef up their oversight of large banks beyond stress tests with deep-dive audits and greater use of outside examiners, a top regulator said Friday. Under a "full-scope" exam, a team of regulators would converge on the largest US banks to pull ledgers, check whether loan payments are on time and "systematically review a cross-section of bank portfolios," said Thomas Hoenig, vice chair of the Federal Deposit Insurance Corp. Such exams, intended to uncover problems li