Federal Reserve Vice Chair for Supervision Michael Barr announced his early resignation from his supervisory role, effective next month. This move, aimed at avoiding a legal battle with the Trump administration, ends his tenure 18 months earlier than planned. Barr’s departure paves the way for a potentially more industry-friendly regulator. The KBW Bank Index rose by as much as 2.4% following the announcement, with Citigroup and Morgan Stanley gaining over 2% each. Barr’s exit could lead to a softer version of the Basel III Endgame, which initially proposed a 19% increase in capital requirements for major banks. Analysts now expect a capital-neutral rewrite of the Basel III Endgame under the new leadership. Despite stepping down as Vice Chair, Barr will remain a Fed governor, maintaining the current 4-3 Democrat advantage on the board.
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