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Changes to Fed’s G-Sib surcharge imminent, says Bowman

Stress test consultation will come first, eSLR will follow, Basel III endgame will take longer

Michelle Bowman
Photo: Federal Reserve/Flickr

Modifications to the US capital surcharge for global systemically important banks (G-Sibs) are high on the agenda for Michelle Bowman, who took the reins as Federal Reserve vice-chair for supervision in June 2025. While the top priority is a consultation on supervisory stress-testing methodology – which the Fed promised partly to head off a lawsuit launched by industry groups – the capital buffer

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