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Fed could ease regulatory burden on bank boards of directors - Powell
April 20, 2017 / 12:37 PM / 8 months ago

Fed could ease regulatory burden on bank boards of directors - Powell

WASHINGTON, April 20 (Reuters) - The Federal Reserve could ease the regulatory burden it puts on the boards of directors of banks, Fed Governor Jerome Powell said on Thursday.

Powell said the possible changes would be aimed at allowing boards of directors to focus on banking strategy rather than an “overly detailed checklist of supervisory process requirements.”

“We are currently reassessing whether our supervisory expectations for boards need to change,” Powell said prepared remarks for an event with financial firms.

Powell, who besides banking regulatory policy also has a vote on the Fed’s interest rate decisions, said the U.S. economy appeared to be “at or close to full employment.” (Reporting by Jason Lange; Editing by Chizu Nomiyama)

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