Interest rate risk rules need more work, says Fed’s Barr
Former vice-chair for supervision also says his redraft of Basel III would have softened NMRFs
On February 28, after two and a half years in one of the most influential regulatory roles in the global financial system, Michael Barr stepped down as vice-chair for supervision at the Federal Reserve.
The decision, which he describes as being in the best interest of the institution, came amid mounting pressure from the incoming administration. His departure paved the way for governor Michelle Bowman to take the reins in June – a shift widely viewed as a political reshuffle to reorient the
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