Former Federal Reserve Board Vice Chair for Supervision Randal Quarles argued that the regime currently used by the FRB to conduct stress tests is “illegal.”
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GAO recapped its "priority open recommendations" for the Federal Reserve Board. Highlighted recommendations concern FinTech, the Bank Secrecy Act and stress testing.
FDIC Chair Jelena McWilliams highlighted recent regulatory developments and additional work concerning resolution planning for large institutions in a cross-border context.
The Board of Governors of the Federal Reserve System Vice Chair for Supervision Randal Quarles advocated for a more tailored approach to supervising banks.
The FDIC updated the "Report of Examination Instructions" section of the Risk Management Manual of Examination Policies .