Bair bids bye-bye to FDIC
With her time as chairman of the US Federal Deposit Insurance Corporation coming to an end, Sheila Bair stakes out a strong position on extra capital for the largest banks, and warns the US and Europe could be diverging in their implementation of Basel III. By Michael Watt
Sheila Bair has become a key part of the regulatory landscape in Washington, DC during her five years at the helm of the Federal Deposit Insurance Corporation (FDIC). Much of that time has been spent fighting fires from the worst financial crisis since the creation of the agency in 1933 – a period that has seen the biggest bank failures in US history, and hundreds of smaller banks placed into receivership. It has also seen an expansion of its powers, with the Dodd-Frank Act handing it
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