CHICAGO — Federal Reserve Board Gov. Daniel Tarullo said Thursday that regulators should consider modifying — or completely eliminating — outdated regulatory requirements that are no longer appropriate given other recent reforms to the system.

Tarullo, who heads bank supervision at the Fed, specifically endorsed scrapping Basel II's internal ratings-based approach to risk-weighted capital requirements, which is applied to all U.S. bank holding companies with at least $250 billion in assets.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.