The head of the Federal Reserve's regulatory and compliance department has resigned voluntarily.

According to the financial app, Zhitong Finance, an internal email revealed that Michael Gibson, head of the Federal Reserve's supervision and regulation department, has accepted a voluntary resignation package and plans to step down at the end of this month. It is reported that Michael Gibson joined the Federal Reserve as an economist in 1992 and gradually rose to senior positions under the leadership of then-Federal Reserve Governor Daniel Tarullo after the global financial crisis in 2008.