[Federal Reserve Governor Bowman: The Fed Plans to Reshape the Bank Regulatory Framework and Reassess Asset Thresholds for Stricter Oversight] BlockBeats News, October 6 – The Federal Reserve plans to comprehensively overhaul the U.S. banking regulatory framework, transitioning from the current model where regional Federal Reserve Bank presidents oversee bank examinations to a new structure with clearer accountability to the Washington headquarters. The Fed's top banking regulatory official unveiled this reform plan on Tuesday. Michelle Bowman, the Fed's Vice Chair for Supervision, stated that the reform will establish five new geographic regions for bank supervision, each led by a 'regional leader.' In remarks prepared for a conference at the St. Louis Fed, Bowman noted that the existing structure "weakens the critical link between responsibility and accountability." Bowman said, "The Fed's supervisory functions will be realigned to foster a culture that emphasizes accountability and clear decision-making authority." Under the new regulatory arrangement, the five regional leaders will oversee all supervisory activities within their respective regions. However, the actual examination work will still be carried out by staff from the regional Federal Reserve Banks. Bowman also announced that the Fed will consider adjusting asset size thresholds later this year, which determine the scale at which banks are subject to stricter regulatory requirements.