Federal Reserve Vice Chair Bowman Unveils Restructuring of Supervision Function and Regulatory Tailoring Updates

Federal Reserve Vice Chair for Supervision Michelle Bowman announced a significant restructuring of the Fed's supervision function and previewed upcoming updates to the regulatory tailoring framework. Bowman stated that the Fed is shifting its focus from process-oriented examinations to material risks that threaten a bank's financial viability, aiming to implement a culture of accountability and clear decision-making authority within the supervision function.