Mubasher: A senior Federal Reserve official is poised to chair the Financial Stability Board (FSB), an international body that oversees financial regulations, according to a news report.

The Fed’s vice chairman for bank supervision Randal Quarles is expected to be named as a head of the FSB, informed sources told the Wall Street Journal (WSJ), adding that the decision was not final until it is announced.

The decision would be announced ahead of 1 December, when the term of the current FSB chair Bank of England (BOE) Governor Mark Carney is over, a source told WSJ.

Such a decision would be a triumph for the Trump administration, which supported Quarles, seeing a chance for influencing global financial regulatory policy, the sources said.