Fed announces supervisory reforms after SVB review, issues new operating principles
On September 18, 2026 Vice Chair for Supervision Michelle Bowman announced initial findings from the independent SVB review and said the Fed has issued a Statement of Supervisory Operating Principles and will require monthly escalation reports from exam teams, expanding supervisory tools and refocusing examiner priorities effective immediately.
The desk brief
On September 18, 2026 Vice Chair for Supervision Michelle Bowman announced initial findings from the independent SVB review and said the Fed has issued a Statement of Supervisory Operating Principles and will require monthly escalation reports from exam teams, expanding supervisory tools and refocusing examiner priorities effective immediately.
If U.S. supervisors force banks to strengthen capital, tighten liquidity buffers, or take more precautionary actions, U.S. banks' dollar funding costs and willingness to intermediate cross-border dollar flows could rise. That would likely tighten dollar liquidity and raise refinancing premia for African borrowers with short-to-medium USD external maturities, conditional on dollar market moves and bank intermediation behavior.
Publication of the Starling Advisory Group full report and Fed implementation timetable for the new supervisory principles.
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Public references supporting this brief.