U.S. Fed launches review of supervision of major banks

Features Reuters

The U.S. Federal Reserve has launched a review of how it oversees major banks, calling on its inspector general to help with the probe after a series of critical reports.

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Separate studies to be carried about by the Fed's Washington-based Board of Governors and its Office of Inspector General are meant to ensure that "divergent views" about the state of large banks are adequately aired.

The reviews will determine whether officials at the regional Federal Reserve banks as well as at the board level "receive the information needed to ensure consistent and sound supervisory decisions," including being made aware of "material matters that required reconciliation of divergent views," the Fed said in a statement. (Reporting by Howard Schneider; Editing by Paul Simao)