Fed to encourage supervisory staff to air divergent views
New York Fed and Richmond Fed boost supervisory resources following review
The Federal Reserve will develop a framework encouraging supervisory staff to speak up when they hold "divergent views" as a matter of "high priority" in 2016.
The announcement, on November 24, follows a review of whether examinations of the largest financial institutions are "consistent, sound, and supported by all relevant information".
A key finding of the review, conducted by the board of governors, is the absence of a formal process for staff to raise "dissenting or divergent views" when
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