Banking Law News

Fed Plans Shift From Writing Rules to Watching How Banks Behave

Jan. 17, 2020, 6:44 PM

The Federal Reserve is shifting its focus from writing and revising rules aimed at limiting risk in the banking system to a concentration on how lenders interpret the restrictions, the agency’s supervision chief said Friday.

Having finished the bulk of its work on major rules, the Fed can now devote more attention to behind-the-scenes interactions between bankers and their government overseers, Vice Chairman Randal Quarles said at a meeting of industry lawyers in Washington. He said the central bank will be more transparent about its supervisory work, sharing guidance documents with Congress and seeking public comment on them as it...

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