Reported 1 day ago
Michael Barr, the Federal Reserve's Vice Chair for Supervision, issued a warning against any erosion of bank regulations during his farewell address, advocating for robust capital requirements and the completion of international banking standards known as 'Basel III Endgame.' As he prepares to leave his regulatory post, Barr highlighted the risks posed by potential unforeseen shocks and cautioned against making the annual stress tests less effective. His departure comes as the Trump administration pushes for regulatory relief, leaving the future of U.S. banking oversight uncertain.
Source: YAHOO