Off The Wire
U.S. Fed to reconsider 'stress capital buffer' plan: official
WASHINGTON (Reuters) - Randal Quarles, head of supervision at the Federal Reserve, said on Friday the central bank would re-propose aspects of a capital rule known as the “stress capital buffer” due to industry concerns.
Speaking at a conference in Washington, Quarles said the regulator should also ease a key element of its annual stress tests that allows the regulator to fail firms on operational grounds. The changes are part of a broader Fed effort to streamline its stress-testing process, a post-crisis tool that banks say have become far to onerous.
Reporting by Michelle Price; Editing by Susan Heavey and Chizu Nomiyama