Quarles term as Fed vice-chair ends without replacement

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Randal Quarles’s term as the Federal Reserve Board’s vice-chair for supervision ended today (October 13), without a replacement being named.

The board’s supervision committee, which the vice-chair for supervision usually presides over, will function temporarily “on an unchaired basis”, the Federal Reserve said in a statement. It will operate by consensus, which means its members will all have to agree to refer matters to the full board.

This committee has three members: Quarles, and Fed

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