The Federal Reserve Board on Thursday proposed to give banks more insight into portfolio performance under its stress testing models in an effort to help banks better understand the Fed’s methodology.
The Federal Reserve Board's vice chair of supervision said that digital currencies hold the potential for innovation but that the financial system's security and resiliency are more important.
The Fed’s new chief bank regulator wants to change “the tenor of supervision”; Ron O’Hanley, who was named president this week, will also take over as CEO by the end of 2018.
The new vice chairman of supervision at the Fed said the agency will seek comment on its rules for stress tests, capital and other areas, as well as look at how fintech has impacted the industry.
Randal Quarlies becomes the first of President Trump's nominees to be confirmed to the Fed board and the first person to become vice chair of supervision at the central bank.
