Top Fed watchdog supports non-bank Sifi designation

Vice-chair Barr complains that regulators lack “even basic data” on some areas of shadow banking

Michael Barr
Michael Barr, US Federal Reserve
Photo: Gerald R Ford School of Public Policy/Michigan Photography

The newly appointed US Federal Reserve vice-chair for supervision, Michael Barr, has hinted at a revival of efforts to designate large non-bank financial firms as systemic, while calling for a more “vigorous” approach from the Financial Stability Oversight Council.

“I do think it’s important to have a vigorous FSOC process … that would permit designation of non-bank firms if they could pose a risk to financial stability,” he told a Brookings Institution event on September 7.

“There was

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