Michael Barr's tenure was marked by attempts to increase bank capital buffers, which sparked significant pushback from industry and some Fed governors, highlighting conflicting ideologies.
In a statement, Mr. Barr emphasized that the vice chair for supervision position was established post-financial crisis to ensure greater responsibility and accountability in banking regulation.
Despite facing resistance and ultimately diluting his proposals, Mr. Barr acknowledged the challenges of requesting more stringent capital requirements from the banking sector.
With a new administration expected, the potential for a shift towards more industry-friendly policies looms, raising questions about the future direction of bank supervision.
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