Fed Plans Overhaul of US Bank Supervision, Says Bowman
The Federal Reserve plans to restructure its supervision of US banks with a new model that will be more accountable to Washington, according to Fed Vice Chair for Supervision Michelle Bowman.
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Fed to overhaul bank supervision accountability, Bowman says
Fed vice chair Michael Barr Bowman said the central bank plans to replace the current regional-bank-presidents model with one more accountable to Washington.
UPDATE 1 — Fed's Bowman says overhaul of bank stress test will make process more transparent
(Adds background, details on major capital rules in paragraphs 1-2, 8) Fed to vote on final stress-test version in coming weeks, Bowman says Revamp would disclose stress-test models, equations, variables and more scenario details, she says Fed expects to finish Basel and systemic-bank capital rule changes by year-end,