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Fed's Quarles Suggests U.S. Could Revisit Capital Requirements For Foreign Banks

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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

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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