Brainard attacks Fed plan to soften regulations

Lael Brainard has criticised the weakening of post-crisis financial regulations in the US, as the Federal Reserve finalised its plans to “tailor” liquidity, capital and resolution requirements for major banks.

Brainard, a member of the Fed’s board of governors, said the actions by the central bank “weaken the safeguards at the core of the system”. She said the changes allowed many big banks to cut their capital and loosen their liquidity coverage ratios (LCRs), adding she was “disappointed” the