The Federal Reserve's new top regulatory official on Friday laid out an ambitious agenda for revisiting and easing numerous bank rules and oversight policies which she argued have become onerous and unnecessary.

Michelle Bowman, the Federal Reserve’s incoming vice chair for supervision, says the central bank will soon address the “odd mismatch” between the confidential ratings of big banks and the lenders’ financial conditions.

Michelle Bowman, the Federal Reserve's new vice chair for supervision, on Friday outlined plans to ease regulatory headwinds for banks, including potential changes to capital requirements and bank merger oversight.