US Fed's shelving of foreign bank liquidity plan puts pressure on FSB chief Quarles

11 October 2019 9:54pm
The US Federal Reserve’s decision to set aside consideration of liquidity requirements for foreign banks’ American branches puts pressure on Fed Governor Randal Quarles to spearhead a global approach that also helps the United States.

Quarles doubles as head of the international Financial Stability Board, which has been reviewing branch resources and which he has said “has created severe liquidity strain in the US banking system in times of stress.”