Barr slams weakening of bank supervisory tests
Fed governor warns deregulation during boom times ushers in crises
Federal Reserve governor Michael Barr, a former vice-chair for supervision, has warned against weakening the central bank’s supervisory framework. Changes to its annual stress tests may “ossify” what has so far proven to be an effective defence against systemic risk, he said.
“Stress testing has been very, very effective,” noted Barr, during a fireside chat on July 16 at the Brookings Institution. “But now the board has agreed to go through a process that I think is likely to ossify the stress
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