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MNI: Barr Stresses Safer Financial System in Debut Speech

(MNI) WASHINGTON

New Fed vice chair for supervision lays out near-term agenda.

Federal Reserve Vice Chair for Supervision Michael Barr on Wednesday stressed the need to make the make the financial system safer and fairer for households and businesses during his first speech since being appointed by President Joe Biden, while noting the central bank will be considering adjustments to capital requirements, including the supplementary leverage ratio.

In a broad, high-level speech laying out some of his near-term agenda, Barr said the Fed will be taking a broad view while considering adjustments, if any, to the supplementary leverage ratio, countercyclical capital buffer, and stress testing.

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Federal Reserve Vice Chair for Supervision Michael Barr on Wednesday stressed the need to make the make the financial system safer and fairer for households and businesses during his first speech since being appointed by President Joe Biden, while noting the central bank will be considering adjustments to capital requirements, including the supplementary leverage ratio.

In a broad, high-level speech laying out some of his near-term agenda, Barr said the Fed will be taking a broad view while considering adjustments, if any, to the supplementary leverage ratio, countercyclical capital buffer, and stress testing.

Keep reading...Show less