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Fed's Powell says bank board proposal would help directors focus on core functions

( August 30, 2017, 15:01 GMT | Official Statement) -- MLex Summary: US Federal Reserve Governor Jerome Powell defended the regulator's new framework for bank board oversight, saying the new approach will not lower the bar or lighten the load for board directors. Powell said the framework will enable directors to focus more on core responsibilities, including overseeing management as they devise a clear and coherent direction, holding management accountable for the execution of that strategy, and ensuring the independence and stature of risk management and internal audit functions.Statement follows....

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