US bank supervisor creates new division for largest banks
New FDIC division offers simplified structure that fosters greater collaboration, chairman says
A key US bank supervisor, the Federal Deposit Insurance Corporation, is set to create a new division to oversee systemically important banks.
The Division of Complex Institution Supervision and Resolution, which will be operational from July 21, will bring together the organisation’s supervisory and resolution teams, currently split between three separate divisions.
The FDIC hopes the change will improve its supervision of large, complex and systemically important financial institutions, its
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