FDIC's New Chairman Says She's Ready to Rethink Bank Oversight
- McWilliams makes first public comments as industry conference
- Bank ratings, living wills, Basel could be reviewed, she says
Jelena McWilliams
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Jelena McWilliams’s first public remarks as chairman of the Federal Deposit Insurance Corp. show she’s probably a good fit with other regulators President Donald Trump appointed to overhaul how banks are supervised.
Speaking at an industry conference in Washington on Tuesday, McWilliams indicated she supports easing the demands of so-called living wills, opposes using agency guidance in place of formal rules and is willing to reconsider how regulators rate banks’ health. She also expressed suspicion about the power of the Basel Committee on Banking Supervision and other international standard-setters -- a view in line with Republican lawmakers she once worked for as a U.S. Senate staffer.