Fed’s Quarles: More Transparency Coming to Stress Tests
The Federal Reserve will move soon to bring more transparency to stress testing exercises, Fed Vice Chairman for Supervision Randal Quarles told an industry conference today.
The Federal Reserve will move soon to bring more transparency to stress testing exercises, Fed Vice Chairman for Supervision Randal Quarles told an industry conference today.
It’s a big news week on the latest episode of the ABA Newsbytes Podcast. Co-hosts Evan Sparks and Shaun Kern discuss the appointment of Jay Powell as Federal Reserve chairman and the final repeal of the arbitration rule. FirstBank’s Jim Reuter is the interview guest.
In an American Banker op-ed today, ABA VP Hugh Carney and senior counsel Shaun Kern called on Congress to reconsider the arbitrary asset thresholds at which banks are subject to Dodd-Frank Act stress testing requirements.
Fifty-one state bankers associations today wrote to members of the Senate Banking Committee encouraging lawmakers to continue pursuing the goal of bipartisan regulatory reform.
Arbitrary asset thresholds “often have the perverse effect of acting as competitive barriers,” and prevent banks from scaling organically, said Acting Comptroller of the Currency Keith Noreika in remarks to an audience of midsize bank chief risk officers today.
Speaking to the annual monetary policy conference in Jackson Hole, Wyo., today, Federal Reserve Chairman Janet Yellen offered a broad defense of the post-financial crisis regulatory framework but embraced “appropriate adjustments” as the economy and global landscape evolve.
During his confirmation hearing today, Randal Quarles — President Trump’s nominee to serve as Federal Reserve vice chairman for supervision — endorsed the concept of tailored supervision that ABA has done much to work into the policy conversation over the past several years.
The Federal Reserve today approved the capital plans of 33 large banks participating in the Comprehensive Capital Analysis and Review.
Noting the progress made over the last several years to improve the strength and resiliency of the U.S. financial system, Federal Reserve Governor Jerome Powell today pointed to several key areas that the Fed is currently focusing on for regulatory reform.
In a speech at the Federal Reserve Bank of Chicago today, Federal Reserve Governor Jerome Powell said that regulators should increase their efforts to monitor for liquidity risk among central counterparties by conducting stress tests on those entities.