FRB Vice Chair Explains Plan For Tailored Banking Supervision

Board of Governors of the Federal Reserve System ("FRB") Vice Chair for Supervision Randal Quarles advocated for a more tailored approach to supervising banks.

In an address before the American Bar Association Banking Law Committee Annual Meeting, Vice Chair Quarles discussed the need for increased efficiency and transparency and identified several measures the FRB is taking to improve the regulatory regime. Among them are appropriately recalibrating the capital and leverage ratio rules and reforming the Volcker Rule. Vice Chair Quarles shared that the agencies are collectively working on a "Volcker Rule 2.0" proposal. He indicated the Federal Reserve is committed to a continued review and refinement of the resolution planning process and stress testing program.