WASHINGTON (Reuters) – The Federal Reserve’s top regulatory official cautioned Thursday against a weakening of bank rules and oversight that could make firms vulnerable to surprise shocks.
Fed Vice Chair for Supervision Michael, who is stepping down from the regulatory post at the end of February, cautioned against any push to significantly weaken existing bank rules and supervision, and urged watchdogs to complete international capital standards.
(Reporting by Pete Schroeder, Editing by Franklin Paul)