Randal Quarles

Randal Quarles found himself in the middle of an issue that typically doesn't fall under a bank regulator's purview.

Comments by Federal Reserve Vice Chairman for Supervision Randal Quarles appeared to contrast with past statements by former officials about the controversial charter.

The rules to comply with the Community Reinvestment Act have become "formulaic and ossified" and must be changed to encourage lending practices the law originally intended to foster, the Fed's top regulator said.

The Federal Reserve is considering allowing banks a chance to comment on stress tests before they take them and dropping any qualitative review for the largest banks’ performance, according to Randal Quarles, the central bank’s vice chairman for banking supervision.

The agencies proposed changes to the way they apply a capital backstop to the largest systemically important firms, replacing a static leverage ratio with a more dynamic ratio that takes each bank’s risk profile into account.

The Federal Reserve Board released a proposal Tuesday to modernize its stress testing regime by replacing many of the existing post-stress minimum capital levels with a so-called “stress capital buffer."

Policies to shore up banks’ corporate cultures have remained a low priority even though some regulators want to attack the issue head on. Strengthening a firm’s ethical values may best be left to a bank’s internal brass.

The Federal Reserve Board's vice chairman for supervision said certain definitions should be more consistent and clearer in order to give regulated entities a better understanding of what to expect when complying with the trading ban.

The Federal Reserve Board's vice chairman for supervision said he did not foresee the agency’s regulatory review as significantly reducing capital levels.

Federal Reserve Vice Chairman for Supervision Randal Quarles on Friday gave the clearest indication yet of the central bank's intention to recalibrate the regulatory framework for the nation’s largest banks.