Online reports that Bowman, the Federal Reserve's new top regulator, has set an ambitious agenda to review and relax a number of banking rules and regulatory policies that she believes have become too onerous and unnecessary. Bowman said the Fed will rethink the way it sets rules and how it oversees some of the largest and most complex banks in the United States. She pointed out that a large number of rules introduced since the 2008 financial crisis deserve reconsideration. Bowman specifically noted that the Fed would consider revising its ratings on large banks, noting that two-thirds of large banks are still rated unsatisfactory by Fed regulators even if they meet all capital and liquidity requirements. She said the proposed reforms would address this strange mismatch by taking a more reasonable approach, reducing some of the subjective rating weights of banks that have shown resilience. She also said the Fed would rethink its rating framework for small banks to ensure it focuses mainly on significant risks rather than regulatory judgment. Bowman also said that the Fed will strictly review so-called "horizontal review," in which regulators conduct in-depth reviews of multiple banks on a specific issue. She believes this approach can actually lead to banks competing with each other and ignore their individual uniqueness when identifying flaws.