Bowman’s reform agenda targets ratings, supervision, capital

Bank ratings, examination practices and capital requirements are all poised for reforms under the Federal Reserve’s new chief regulator.

In her first speech since being confirmed as Fed vice chair for supervision, Michelle Bowman outlined an ambitious agenda seeking to overhaul nearly every part of the central bank’s oversight apparatus with an eye toward greater cohesion and a rigid focus on bank finances.

“Conditions constantly evolve in the banking system, and so too must the regulatory and supervisory framework,” Bowman said. “We must be proactive and responsive in the face of emerging risks and ensure that the framework operates in an…