Off The Wire
Fed's Quarles Suggests U.S. Could Revisit Capital Requirements For Foreign Banks
WASHINGTON (Reuters) - The top regulatory official for the Federal Reserve suggested Wednesday regulators could consider lowering capital requirements for foreign banks operating in the U.S.
Randal Quarles, the Fed’s vice chair for supervision, said he wanted the central bank to review its current rules for foreign banks, particularly the levels it requires global banks to hold internally to guard against failures of U.S. operations.
He said he would recommend the Fed review its policies on this front in the coming weeks, and invite comment on possible changes.
Reporting by Pete Schroeder; Editing by Chizu Nomiyama