Michelle Bowman
CCAR at a turning point, but which way is forward?
Banks sniff an opportunity to push the Fed for more openness over stress test models – and seize capital benefits
A fractured monetary system
US policy is encouraging a transition away from a dollar-led, rules-based order
Leverage ratio reform: the good, the bad and the Treasury
A simple cut would be less likely to stoke interest rate risk than exempting US government bonds
Maurice Obstfeld on the trade war’s damage to the monetary system
The former IMF chief economist speaks about Trump’s chaotic economic policies, the erosion of Fed independence and dollar stability, difficult policy trade-offs for central banks, and the threat to the Bretton Woods institutions
Mr Bessent goes to Basel: the fate of global bank regulation
US resistance to international standards could spark greater fragmentation of prudential rules
Fed’s SLR reform must address interest rate risks – experts
Planned change receives support from some, but others warn of slippery slope to excessive deregulation
Fed official: SLR tweaks likely unbundled from Basel III
Complexity of endgame proposals means any leverage ratio changes will probably be proposed separately
US Basel equivalence questioned as EU patience wears thin
MEPs say unfaithful US implementation of Basel III could trigger review of access to EU markets
Bowman won’t commit to stress-testing tariff shock
Nominated Fed vice-chair stonewalls calls to run ad hoc scenario similar to 2020 Covid test
Fed’s Bowman to ‘prioritise’ SLR exemption for US Treasuries
Reinstating Covid-era relief is a ‘no brainer’, dealers say, as bond markets reel from tariff chaos
No need for repo clearing ‘cannon’ in Europe, says industry
Observers question rationale for a clearing mandate, calling for clearer incentives
Bowman’s ascent sparks office intrigue at the Fed
Trump’s vice-chair for supervision pick is said to have a prickly relationship with Powell
Can Bessent lower 10-year yields? Investors have their doubts
Unconventional tools won’t sway bond markets, say buy-siders, with yields as likely to go higher as lower
Trump taps Bowman to become Fed’s vice-chair for supervision
Designated chief regulator has opposed Basel III endgame and pushed for lighter capital rules
Fed governors differ on best way to deal with Trump uncertainty
Waller says monetary policy can’t be “put on hold”, but Bowman calls for wait-and-see approach
Banks’ leverage ratio ‘over-calibrated’, says Fed’s Bowman
Heavy capital requirements causing illiquidity in Treasury market, governor says
Barr’s Fed exit likely to delay, but not destroy, Basel III
Market risk, op risk and leverage ratio all in the sights of Barr’s potential successors
Capital neutrality key to completing Basel III, says Quarles
Former Republican Fed vice-chair thinks Hill or Bowman could help revive stalled prudential rules
Fed policy-makers express frustration over price rises
Officials draw differing conclusions on the outlook for the labour market
FOMC holds rates again, ending year at 5.25–5.5%
“Committee is proceeding carefully” as inflation recedes, but slowly, says Powell
Fed holds rates steady again
Powell said the question the committee is asking is should it hike rates more
US regulators issue new climate guidance, despite opposition
Governors Waller and Bowman voice strong disapproval