The US Federal Reserve plans to propose a rule by year-end to reduce the frequency and ease the complexity of stress tests for regional banks, though key details remain to be worked out, Fed regulatory chief Randal Quarles said.
“That is our highest priority in the necessary sequencing of tasks associated with implementation of” a new law dialing back Dodd-Frank Act requirements for community and regional banks, he told the Senate Banking Committee this week.
“We’ll be completed with that task very soon, certainly before the end of the year, and I hope well before that,” said Quarles, the Fed’s vice chairman for supervision.
Fed to propose simplified stress-test requirements for regional banks by year-end
5 October 2018 7:37am