The Federal Reserve said it will conduct a review of its supervision of the largest, most systemically important financial institutions in the United States.
The Fed also asked the central bank's Office of Inspector General to examine how reserve banks make supervisory assessments and whether officials are aware of "divergent views among an examination team," the Fed said today in a statement issued in Washington.
A U.S. Senate committee is set to hear testimony tomorrow from New York Fed President William C. Dudley on the reserve bank's relationship with the firms it regulates. The bank has been accused of being too deferential to banks it supervises, including Goldman Sachs Group Inc.
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