Central Banks
Barr’s Exit as Fed’s Top Bank Cop Puts Capital Rules in Doubt
- Barr to depart role Feb. 28 unless successor confirmed earlier
- He plans to still serve as member of Fed’s Board of Governors
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Federal Reserve Vice Chair for Supervision Michael Barr plans to step down from the role, bypassing a potential battle with President-elect Donald Trump over his position and raising questions about the future of a landmark bank-capital proposal.
Barr is preparing to depart from the position on Feb. 28 unless a successor is confirmed earlier, the US central bank said on Monday. He plans to continue to serve as a member of the Fed’s board of governors.