Fed’s Barr announces resignation as vice chair of supervision

Federal Reserve Vice Chair for Supervision Michael Barr announced he will step down on Feb. 28 or earlier if a successor is confirmed, though he will remain on the Fed board until his term ends in 2032. Serving since 2022, Barr has led efforts on Basel III capital requirements, revising the proposal after widespread criticism. The Fed has paused major rulemakings until a new vice chair is in place.