Fed floats new stress test reforms after industry pressure

Randal Quarles

The Federal Reserve is to further simplify its stress test reform proposals, Randal Quarles said on September 5, after several big banks criticised the plans.

The Fed vice-chair for supervision said he believes the leverage ratio buffer requirement and rules requiring banks to pre-fund dividend payments should be removed from the original stress capital buffer (SCB) proposal announced in April last year.

He suggested the Fed instead introduces a more dynamic counter-cyclical capital buffer

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