The Federal Reserve Board is reorganizing its information-technology unit responsible for banking supervision.

The Fed has created a Supervisory Information Technology Office, which will decide what new hardware and software to buy. It will be advised by a council made up of officials from the 12 reserve banks. The Fed said the new structure should let it allocate information technology dollars more efficiently.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.