Federal Reserve Board Vice Chair for Supervision Randal K. Quarles highlighted measures to promote efficiency in the financial system after the "Great Financial Crisis."
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In testimony before the Senate Banking Committee, Federal Reserve Board Vice Chair for Supervision Randal K. Quarles provided legislators with an update on the effects and wind-down of programs implemented in response to the pandemic.
Federal Reserve Board Governor Lael Brainard called attention to the fragilities in the financial system that were made evident by the COVID-19 pandemic.
In a joint statement, the FRB and the OCC said they will not recommend enforcement action against swap dealers that are parties to certain legacy swaps in connection with the UK's departure from the EU.
A joint Federal Reserve Board, OCC and FDIC interim final rule went into effect relieving community banks impacted by COVID-19 policy responses from the regulatory requirements applicable to institutions with over $10 billion in assets.