News Topic: Randal Quarles

Alternative data "may improve the speed and accuracy of credit decisions and may help firms evaluate the creditworthiness of consumers," the agencies said. ... Read full article

The Cleveland Fed president dismissed concerns about the central bank's faster payments system competing with The Clearing House's network, while saying that a national digital currency is less of a necessity in the U.S. than in other countries. ... Read full article

It's time to establish a fintech commission. ... Read full article

Executives sent a letter to the federal banking regulators last month expressing concern that an alternative to the London interbank offered rate could limit credit availability. ... Read full article

The central bank finalized a host of regulatory-relief changes mostly benefiting midsize and regional banks that hew closely to proposals issued in April and last fall. ... Read full article

The Fed’s top regulatory official said how agencies adjust their supervisory approach may prove just as important as their rulemaking efforts. ... Read full article

The Fed is seeking feedback on a "Building Block Approach" to risk-based capital standards for firms heavily engaged in insurance activities. ... Read full article

The top regulatory official at the central bank said it could deploy either one of two tools to revise the proposed stress capital buffer. The plan aims to streamline the stress test program. ... Read full article

Vice Chairman Randal Quarles’ public dissent raises questions about how the board will proceed on other policy debates. ... Read full article

The central bank may need to rethink how it uses a tool meant to combat elevated risk in boom times, said Vice Chairman for Supervision Randal Quarles. ... Read full article

The Federal Reserve last year proposed consolidating many of the measures of a bank’s capital strength into a single “stress capital buffer.” ... Read full article

A new set of tougher scenarios did little to keep large banks from passing the most recent stress tests mandated by the Dodd-Frank Act. ... Read full article

Competition from the public sector in payment services has benefited the public and should not be discounted in the development of a real-time system, said Kansas City Fed chief Esther George. ... Read full article

Although Libor will will not be phased out until at least 2021, Randal Quarles said making the switch early is "consistent with prudent risk management." ... Read full article

Former Federal Reserve Gov. Daniel Tarullo warned that a Fed proposal to weaken the stress capital buffer, among other things, could hurt safety and soundness. ... Read full article

Over a dozen progressive lawmakers urged the central bank to reverse its course and protect bank regulations enacted after the financial crisis. ... Read full article

The ranking Democrat on the Senate Banking Committee says he wants answers from the Financial Stability Oversight Council on efforts to address corporate debt risks. ... Read full article

As the central bank board proceeds with reforms easing the post-crisis regulatory regime, the Obama-appointed governor has not shied from opposing the agency’s course. ... Read full article