Fed's Top Bank Regulator Proposes Tougher Oversight Despite Industry Pushback

Michael Barr, the Federal Reserve's top banking regulator, has proposed tightening oversight of large banks, drawing backlash from the industry.
The proposal would raise capital requirements for the 8 largest banks and expand oversight of banks over $100 billion following Silicon Valley Bank's collapse.
Banks have lobbied heavily against the proposal, with trade groups running ads and some Fed governors opposing the changes.
Barr has surprised many with his aggressive stance after being seen as moderate; he aims to complete post-2008 crisis reforms.
Analysts expect Barr to hold firm on major aspects despite industry pressure, having fought hard for key policies in the past.

nytimes.com

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9/5/2023

FTC’s New Merger Guidelines Touch a Nerve. Big Business Won’t Like it.

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Fed Vice Chair: Central Bank Digital Currency Still a Long Way Off, Concerns Remain About Stablecoins

The US Federal Reserve is still in the early research phase and far from making any decisions on a central bank digital currency, according to Federal Reserve Vice Chairman Michael Barr, who also emphasized the need for clear support from the executive branch and legislation from Congress before any moves are made. Barr expressed concerns about stablecoins and called for strong federal oversight to avoid risks to financial stability and the US payments system.

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Fed Official Barr Discusses CBDC Research, Stablecoin Regulation at Philadelphia Event

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Fed Vice Chair Defends New Bank Capital Rules, Disputes Banker Concerns of Reduced Lending

Federal Reserve vice chair of supervision Michael Barr refutes claims that new US proposals requiring banks to increase their capital buffers would harm the economy, citing the growth and profitability experienced by the banking industry following changes implemented after the 2008 financial crisis.

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Posted 9/14/2023, 9:00:42 AM

Fed's Top Bank Regulator Proposes Tougher Oversight Despite Industry Pushback

Michael Barr, the Federal Reserve's top banking regulator, has proposed tightening oversight of large banks, drawing backlash from the industry.
The proposal would raise capital requirements for the 8 largest banks and expand oversight of banks over $100 billion following Silicon Valley Bank's collapse.
Banks have lobbied heavily against the proposal, with trade groups running ads and some Fed governors opposing the changes.
Barr has surprised many with his aggressive stance after being seen as moderate; he aims to complete post-2008 crisis reforms.
Analysts expect Barr to hold firm on major aspects despite industry pressure, having fought hard for key policies in the past.

nytimes.com

Relevant topic timeline:

9/5/2023

FTC’s New Merger Guidelines Touch a Nerve. Big Business Won’t Like it.

9/8/2023

Fed Vice Chair: Central Bank Digital Currency Still a Long Way Off, Concerns Remain About Stablecoins

9/8/2023

Fed Official Barr Discusses CBDC Research, Stablecoin Regulation at Philadelphia Event

Michael Barr, the Vice Chairman of the Federal Reserve Bank, expressed concern about stablecoins and praised legislative efforts to regulate them at a fintech event.

9/28/2023

Biden Warns Against Trump's Authoritarian Ambitions if Re-Elected in 2024

10/9/2023

Fed Vice Chair Defends New Bank Capital Rules, Disputes Banker Concerns of Reduced Lending