US Fed's director of banking supervision to retire

Cole joined the Fed in 1979 as a senior financial analyst. In 1997, he was promoted to associate director before becoming senior associate director in 2001. Since 2006, he has served as director of the division of banking supervision and regulation, where he represented the Fed on domestic interagency policy committees, including the Federal Financial Institutions Examination Council's Supervision Task Force, and on the Basel Committee on Banking Supervision.

An official at the Fed declined to comment on who will succeed Cole and when a successor will be announced.

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