Wall Street banks are lobbying the Federal Reserve to formalise its supervisory pullback to prevent reversal by future administrations, Reuters reports
- The Fed has been replacing binding "matters requiring attention" with nonbinding "observations," and plans to amend 2013 documentation to provide legal clarity.
- Banks are seeking written assurances that observations will not be escalated to formal enforcement actions, while the Fed is publishing new operating principles for examiners to make the changes more durable.
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