News Topic: Randal Quarles
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With Fed picks, Biden will have to walk political tightrope
Fed's Quarles throws cold water on central bank-backed digital dollar
Fed Gov. Quarles is wrong about bank capital buffers
Fed 'likely' to tweak capital measure because of pandemic, Quarles says
Warren, Quarles spar over Fed role in banks' Archegos losses
Bank regulators grilled on climate efforts, ILCs, 'true lenders'
Say goodbye to Libor, or risk the ire of your regulator
Fed's Quarles: Bank supervisors don't get crypto
Fed official backs using capital buffer to reduce impact of future crises
Fed will lift limits on capital distributions for some banks — but not until 3Q
For banks that pass this year’s stress tests, the Federal Reserve said it will eliminate the restrictions on dividends and share buybacks while subjecting those institutions instead to the stress capital buffer. ]] ... Read full article
Fed’s Quarles aims to clear up confusion about Libor deadline
Legacy contracts using the London interbank offered rate — which is set to be phased out at the end of this year — were granted a reprieve to mid-2023. However, there is no wiggle room on when the rate will expire for new deals, said Federal Reserve Vice ... Read full article
Industry was strong enough without dividend, buyback curbs: Quarles
The Federal Reserve imposed the restrictions after conducting supplemental stress tests tied to the pandemic. But Vice Chair of Supervision Randal Quarles says it is now clear banks would have had sufficient capital regardless. ... Read full article
Fed details stress-test scenarios for 2021
Nineteen of the nation's largest banks must show how they'd withstand pressures in the commercial real estate and corporate debt markets that would accompany a severe global recession. ... Read full article
Fed's exam ratings system needs upgrade, Quarles says
The central bank is exploring how to improve the consistency and transparency of safety and soundness scores used to grade banks and their holding companies, the agency’s vice chairman of supervision said. ... Read full article
Fed asking why banks aren't lending more
Vice Chairman of Supervision Randal Quarles said the agency wants to figure out why banks are holding on to capital that could be used more aggressively to respond to the pandemic. ... Read full article
Shadow lenders poised to get tougher rules in global crackdown
Global regulators are preparing to tighten restrictions on companies believed to have threatened the financial system at the height of pandemic-fueled volatility. ... Read full article
Fed’s Quarles casts doubt on permanent capital relief for big banks
Regulators in the spring temporarily eased a key benchmark of balance-sheet strength to allow institutions to help customers navigate the pandemic, but Federal Reserve Vice Chairman Randal Quarles said it would be “premature” right now to suspend it for ... Read full article
Fed offers details on additional bank stress test triggered by COVID-19
The agency has scheduled an extra assessment of institutions' strength to incorporate more recent economic data during the pandemic. ... Read full article
Shadow bank weaknesses forced Fed's market rescue, Quarles says
A top Federal Reserve official is issuing a warning about fast-growing and largely unregulated shadow lenders: They were a big factor in why central banks had to save markets earlier this year, and much more needs to be done to assess the risks posed by ... Read full article