Fed likely to propose easing 'living will' standards for simpler regional banks, Quarles says

3 October 2018 7:22am
The US Federal Reserve is likely to propose a rule well before the end of next year to ease “living will” requirements for less complex regional banks, Randal Quarles, the Fed’s regulatory chief, said Tuesday.

At the same time, the Fed released a study indicating that US investors largely expect the government to refrain from bailing out large banks in a crisis — a vote of confidence, the study said, in the living-will process overseen by regulators.

Quarles told the Senate Banking Committee he expects a proposal to be issued “much more quickly” than by the November 2019 deadline set by a new law rolling back parts of the Dodd-Frank Act.