The central bank, which received broad authority after the crisis to supervise big banks, is expected to get more attention from lawmakers over its discretion to ease banks’ burden.
With strategic changes at key trade groups and attention shifting away from regulatory relief for community banks, the interests of large institutions have taken on more prominence.
The agency creates “regulatory sandbox” to help develop products, including crypto-based ones; FSOC agrees bank’s failure wouldn’t wreck the financial system.
The Fed's top regulatory official suggested that some banks could get a break from filing resolution plans and see the frequency of their stress tests reduced.