Federal Reserve Board Vice Chair Randal K. Quarles reviewed the contributions of the Financial Stability Board and raised issues that continue to affect the global financial system.
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The Federal Reserve Board proposed expanding the number of financial institutions that fall under the "netting" provisions of the Federal Deposit Insurance Corporation Improvement Act of 1991.
Stanley Fischer, Vice Chair of the Board of Governors of the Federal Reserve System, described steps taken by the Federal Reserve and other U.S. regulators to improve the resolution process for global systemically important banking organizations.