Fed’s Quarles outlines ‘building block approach’ to insurance regulation

Randal Quarles
Randal Quarles
Photo: US Federal Reserve

Federal Reserve vice-chair Randal Quarles outlined the central bank’s “building block approach” to setting capital requirements for insurers during remarks on January 9.

“We decided against applying the [Federal Reserve] Board’s bank holding company capital rules to supervised insurance firms at the enterprise level, in light of the very different business models of insurance and banking,” Quarles told a life insurance conference in Florida.

He said the Fed similarly chose not to mimic the

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