Stein To Step Down From Depleted Fed Board On May 28

(Reuters) - Federal Reserve Governor Jeremy Stein, who has played a leading role in elevating the topic of financial stability in the U.S. central bank's monetary policy deliberations, will step down on May 28 to return to his teaching post at Harvard University. Stein's departure will open up a second vacancy on the normally seven-person Fed board, assuming the U.S. Senate gives its approval to three nominees already awaiting confirmation.