Financial Accounting News

Bank Regulators Won’t Intervene in Loan Loss Accounting Rules

May 15, 2019, 9:24 PM

Bank regulators are studying the effect major new loan loss rules will have on banks and the economy, but don’t expect to intervene any time soon.

Federal Reserve Vice Chairman Randal Quarles told members of the Senate Banking Committee May 15 that the regulator was waiting until the new rules take effect to determine whether to take further action.

“If we see some of these adverse consequences that have been proposed, we have the tools to be able to address them by adjusting other aspects of the regulatory system to ensure that it’s not a burden on the banks,”...

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