[The Federal Reserve Finalizes Plan to Restructure Bank Supervision Division] According to a report by Jinse Finance, on June 25, Federal Reserve Vice Chair for Supervision, Michelle Bowman, completed the restructuring of the agency's bank supervision division, aiming to focus on financial risks she deems critical. "This restructuring marks an important step in refocusing on the supervision of significant financial risks, while also striving to make the Federal Reserve's bank supervision work more effective, efficient, fair, and transparent, and to strengthen public accountability," Bowman wrote in a memo to staff. The adjustments within the Division of Supervision and Regulation will take effect on July 12, at which point personnel and resources will be reassigned to four functional groups: Supervision; Financial Research, Risk, and Applications; Regulation and Policy; and Business Enablement. Bowman also stated that the division will begin recruiting for various leadership and staff positions.