Jump to Content
Statement

ABA Welcomes Fed Vice Chairman Quarles' Remarks on Regulatory Tailoring

“We welcome today’s remarks from Federal Reserve Vice Chairman Randal Quarles at ABA’s Summer Leadership Meeting on the opportunity for regulators to expand their use of tailoring as a supervisory tool. ABA strongly supports a tailored approach to regulation because it ensures that risk practices and business models – rather than arbitrary asset thresholds – will determine appropriate levels of supervision. We firmly believe regulatory tailoring is the most effective and efficient way to maintain safety and soundness while allowing banks to better serve their customers and the broader economy.
 
“The urgency Vice Chairman Quarles conveyed and his commitment to determining how regulators could apply tailoring on a broader scale represent a very positive step forward. We urge the Federal Reserve and other banking regulators to move quickly to develop this new framework.”

###

About the American Bankers Association

The American Bankers Association is the voice of the nation’s $17 trillion banking industry, which is composed of small, midsize, regional and large banks that together employ more than 2 million people, safeguard $13 trillion in deposits and extend nearly $10 trillion in loans.

Press Contact

Ian McKendry

(202) 663-5473

Contact Ian

Stay Connected