News Regulators 

A top Federal Reserve official said Monday that the central bank should go beyond the pending bipartisan Senate bill in providing regulatory relief for regional banks.

“A top Federal Reserve official said Monday that the central bank should go beyond the pending bipartisan Senate bill in providing regulatory relief for regional banks” writes Joshua Roberts Bloomberg for washingtonexaminer.com. Quarles said that the financial system is stronger and safer thanks to the post-crisis rules, but that “inevitably” the vast array of new regulations could be improved.Quarles said he supports the legislation, which liberal critics argue would represent a step toward greater risk of financial crisis.Those changes would not apply to megabanks such as Goldman Sachs and JPMorgan Chase, but rather to the regional banks that are the focus of the bipartisan Senate-passed regulatory relief bill.He also proposed letting banks file “living wills” spelling out how they would go bankrupt without causing a crisis every two years rather than annually.
 
Source: washingtonexaminer.com



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