The Federal Reserve today released a long-awaited final rule simplifying the complex stress testing and capital planning framework for the nation’s largest banks.
Taking note of the inherent tension in bank supervision between the need for confidentiality and tailoring on one hand and accountability and predictability on the other, Federal Reserve Vice Chairman for Supervision Randal Quarles today elaborated on his plans to revamp how the Fed supervises banks.
The Federal Reserve today released the two hypothetical economic and financial market scenarios that it will use in the next round of the Comprehensive Capital Analysis and Review process for the nation’s largest financial institutions.
Federal Reserve Vice Chairman for Supervision Randal Quarles today outlined several actions the agency is considering to increase the transparency of its supervisory activities and ensure due process for supervised institutions, acknowledging that the Fed has not “communicated as clearly as it should” with banks under its supervision.
Amid greater attention by policymakers worldwide to financial risks associated with climate change, a senior Federal Reserve official today said that the agency has no “near-term” plans to conduct climate stress tests or impose climate-related risk weighting on assets.
A group of 13 Republicans on the Senate Banking Committee today urged the federal banking agencies to accelerate implementation of regulatory reforms made by the S. 2155 reform law, as well as other reforms that they said would enhance economic growth.
In remarks at a conference at the Federal Reserve Bank of Boston today, Fed Vice Chairman for Supervision Randal Quarles highlighted ways his agency is working to make stress tests more transparent, simple and less volatile.
The largest U.S. banks collectively showed that they can withstand a severe economic downturn and continued to improve their capital positions, according to the results of Dodd-Frank Act-mandated stress tests the Federal Reserve released today.
In the clearest terms expressed by any regulator to date, Federal Reserve Vice Chairman for Supervision Randal Quarles emphasized that banks need to begin transitioning away from the London Interbank Offered Rate as a benchmark.
Cybersecurity and the slowing of the global economy are two key issues of concern, the CEOs of the nation’s largest banks told the House Financial Services Committee today.