Federal Reserve Board Vice Chair for Supervision Michael S. Barr to Step Down in February 2025
Washington, D.C. – The Federal Reserve Board announced today that Michael S. Barr will step down from his position as Vice Chair for Supervision, effective February 28, 2025. Barr will continue to serve as a member of the Board of Governors.
Barr was sworn in as Vice Chair for Supervision on July 19, 2022. As Vice Chair for Supervision, Barr is responsible for overseeing the Board’s supervision and regulation of the nation’s largest banks and financial institutions.
Prior to his appointment to the Board, Barr was a Professor of Law at the University of Michigan Law School and a Senior Fellow at the Brookings Institution. He also served as Assistant Secretary for Financial Institutions at the U.S. Treasury Department from 2009 to 2010.
“Michael is a dedicated public servant who has brought a wealth of knowledge and experience to the Board,” said Federal Reserve Chair Jerome H. Powell. “His leadership has been instrumental in strengthening the safety and soundness of our financial system, and we are grateful for his contributions. We look forward to his continued service as a governor.”
Barr said, “It has been an honor to serve as Vice Chair for Supervision and to work with my colleagues on the Board and the staffs of the Board and the Federal Reserve System to promote the safety and soundness of our financial system. I look forward to continuing to serve as a governor and contributing to the Federal Reserve’s mission.”
A search for Barr’s successor will begin in the coming months.
Media Contacts
Michelle Smith 202-452-2955 michelle.smith@frb.gov
Dave Skidmore 202-452-2955 dave.skidmore@frb.gov
Federal Reserve Board announces Michael S. Barr will step down from his position as Federal Reserve Board Vice Chair for Supervision, effective February 28, 2025, and will continue to serve as governor
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