Supervisory culture at Fed a ‘decades-long problem’ – Bowman
Vice-chair says there will be restructuring, while ‘tailoring’ of regulations will also change
Michelle Bowman has said there has been a “decades-long problem” with culture in the Federal Reserve’s supervision of financial institutions.
The Fed’s vice-chair for supervision made her remarks today (October 14) in Bangkok during a discussion with Tim Adams, CEO of the International Institute for Finance, on the results of the independent review into the collapse of Silicon Valley Bank (SVB).
She said the report would be released imminently and that it had involved interviews with Randal
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