Randal Quarles

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.


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 the sector.


Fed's Quarles urges nations to strengthen bank resolution plans


Randal Quarles, who is also chairman of the Financial Stability Board, said FSB members must do more to prepare for bank failures.


Fed should make banks stop paying dividends, Senate Democrats say


The lawmakers argued in a letter to the Federal Reserve that suspending dividend payouts would be the "prudent course of action," allowing banks to build their capital cushions and continue lending during the coronavirus pandemic.


The Fed's move to tweak bank stress tests; Wirecard CEO quits as money hunt continues


Big banks will need to show how well they can withstand three different scenarios before they can pay dividends; the German payments company is still looking for $2 billion of missing funds.


Banks’ dividend payouts could hinge on COVID-19 stress tests: Quarles


The senior official said the Federal Reserve’s gauge of a firm’s performance under economic recovery scenarios will affect decisions about its capital distribution, but individual results of the analysis will not be made public.


How coronavirus could alter Fed’s thinking about stress tests


The general structure of this year’s reviews is unchanged despite the pandemic. But a supplemental analysis of banks' response to the downturn could weigh heavily in evaluating 2020 capital distributions and making adjustments to the tests over the long run.


Democrats lay into OCC chief for pushing ahead with CRA rule


At a Senate hearing with all the bank regulators, Joseph Otting got an earful over his agency’s decision to move forward with Community Reinvestment Act reform during the pandemic. Lawmakers also urged the Fed to speed up the rollout of coronavirus relief programs.


Global regulators pledge further relief for banks in midst of crisis


The Financial Stability Board said it stood ready to coordinate additional help on capital requirements, upcoming regulatory deadlines and other standards.


Fed stress tests will incorporate 'current events,' Quarles says


The agency's top supervisory official said the Comprehensive Capital Analysis and Review will proceed on schedule, and signaled that the Fed will look at how institutions are responding to fallout from the coronavirus.