Fed’s Bowman defends regulatory ‘tailoring’

Federal Reserve Board member Michelle Bowman has challenged calls for the reversal of regulatory “tailoring” for mid-sized banks. In a May 12 speech, Bowman also contested the findings of Michael Barr’s report into the failure of Silicon Valley Bank.

Speaking at a symposium hosted by the European Central Bank, Bowman defended the Fed’s 2019 adoption of less stringent regulations for banks with fewer than $250 billion in assets.

A 2018 law, the Economic Growth, Regulatory Relief, and Consumer