FRB Vice Chair for Supervision Describes Considerations on EGRRCPA Implementation

In remarks before the U.S. Senate Committee on Banking, Housing and Urban Affairs, Federal Reserve Board ("FRB") Vice Chair for Supervision Randal K. Quarles described the "business mix, complexity and interconnectedness, and risk profile of banking institutions" when tailoring regulations under the Economic Growth, Regulatory Relief and Consumer Protection Act ("EGRRCPA").

He stated that the FRB will:

• not require bank holding companies ("BHCs") with less than $100 billion in assets to comply with requirements related to, among other things, resolution planning, internal liquidity stress testing, and liquidity risk management;
• tailor its supervision and regulation of larger BHCs that are not globally systemically important; and
• propose a rule on tailoring enhanced prudential standards for banking firms with assets between $100 and $250 billion.