The Federal Reserve is overhauling a committee it formulated seven years ago to further the management of huge and intricate banks, according to people knowledgeable about the matter.
Sources added the initiative is included in the Fed’s effort to put into use all the lessons from the global financial meltdown.
The changes seek to streamline the six subpanels of the Large Institution Supervision Coordinating Committee to curb overlap and clear up the functions of each supervisor.
It also intends to adjust regional examiners’ work much closely with the board’s requests and the Fed’s framework for huge bank oversight.
A Fed spokesperson mentioned that centralizing some facets of the internal committee structure is underway. He added the board expressed its commitment to evaluate and develop the process.
The material has been provided by InstaForex Company – www.instaforex.com
April 27, 2017 at 08:19AM
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