US Federal Reserve to overhaul bank supervision system for better accountability
The US Federal Reserve is restructuring its bank supervision framework to enhance accountability and streamline decision-making processes. The overhaul will establish five new geographic supervisory regions, each headed by a regional leader tasked with improved oversight.
The restructuring follows recommendations from an independent review into Silicon Valley Bank's failure. The Fed will also reassess asset thresholds for regulatory requirements to ensure they better reflect current inflation and economic conditions.
