San Francisco Fed Bank-Supervision Chief to Retire

The transcript discusses the retirement of Azar Abbasi, the supervision chief at the San Francisco Fed, effective at the end of October. The timing of his retirement is notable, following the scrutiny faced by the San Francisco Fed after the bank failures of Silicon Valley Bank and First Republic Bank. The transcript also covers the policy changes proposed by Vice Chair Michael Barr, focusing on capital requirements and bank evaluations. The San Francisco Fed has largely deferred to the Board of Governors for these changes.

What are the implications of the timing of Abbasi's retirement in relation to recent bank failures?

What role does the Board of Governors play in the changes to bank supervision practices?