In remarks at ABA’s Summer Leadership Meeting in Salt Lake City today, Federal Reserve Vice Chairman for Supervision Randal Quarles signaled that the Fed would act sooner than required by S. 2155 to tailor prudential standards for banks between $100 billion and $250 billion in assets.

The Federal Reserve will move to implement the provisions of S. 2155 -- the new regulatory reform law -- as quickly as possible, Federal Reserve Chairman Jerome Powell said in testimony before the Senate Banking Committee today.

Thanks to a joint statement by the federal banking agencies today, the Dodd-Frank Act-mandated company-run stress tests have been ended for banks, as well as bank holding companies, with less than $100 billion in assets.

As they implement S. 2155, the Federal Reserve and the FDIC today said that they are beginning the process of determining which financial firms with assets of less than $250 billion will be subject to the requirement to submit resolution plans, also known as living wills.

The U.S. financial system, including community banks, benefits from its regulators’ participation in the Financial Stability Board, Federal Reserve Vice Chairman for Supervision Randal Quarles told the Utah Bankers Association today.

ABA today submitted a comment letter supporting the Federal Reserve’s latest -- and perhaps most significant to date -- proposed reforms to the CCAR stress test program applicable to bank holding companies above $50 billion.

In a letter to the Federal Reserve and the OCC today, ABA expanded on its previous comments supporting the agencies’ recently proposed rule that would tailor the enhanced supplementary leverage ratio that applies to the largest U.S. banking organizations.

In a landmark moment for post-crisis banking policy, the House today passed S. 2155, the Senate’s bipartisan regulatory reform bill.

In testimony before the Senate Banking Committee today, Federal Reserve nominee Michelle Bowman highlighted the critical role that community banks play in growing the economy, and offered support for more closely tailored regulation for these institutions.

In New York City, more than 1.3 million rental homes and apartments have rents that are stabilized, controlled or otherwise regulated. These units account for more than 60 percent of New York City’s overall rental market and over 40 percent of all occupied housing in the city. While economists debate the merits of rent stabilization policy, the owners of these ...