Quarles advocates end to ‘micromanagement’ of supervised banks
Fed’s vice-chair for supervision aims to preserve a secure financial system and foster efficiency
Randal Quarles, the Federal Reserve vice-chair for supervision, advocated looser supervisory policies in his appearance before the Committee on Financial Services of the House of Representatives on April 17.
“We at the Federal Reserve intend to maintain the core elements of the post-crisis framework that have been put in place to protect the financial system’s strength and resiliency, while also seeking ways to enhance its effectiveness,” Quarles said in his initial statement before the
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