Fed’s Reach May Be Curbed Under Plan
The New York Times: Several high-ranking members of the Senate Banking Committee have reached a tentative consensus on a plan that would strip the Federal Reserve of regulatory powers over all but the very largest banks, those with more than $100 billion in assets, people briefed on the negotiations said on Monday night.
The plan would remove Fed oversight from all but 23 of the 4,974 bank holding companies, which have a collective $16.7 trillion in assets, and from 874 state-chartered member banks that are members of the Fed system and that have a total of $1.7 trillion in assets. Read Article
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