WASHINGTON (Reuters) – U.S. President Donald Trump’s top banking regulator will tell lawmakers on Tuesday that he wants more industry input into stress tests and to ease liquidity requirements for large, non-global lenders.
Federal Reserve vice chair for supervision Randal Quarles plays a key role in Trump’s pledge to spur economic growth by easing post-financial crisis regulations, and his proposals will likely be challenged by Democratic lawmakers.
Quarles - House - Financial - Services - Committee
Quarles will appear before the House Financial Services Committee on Tuesday and the Senate Banking Committee on Thursday, giving lawmakers their first opportunity to quiz the Fed official since he took office in October.
But Quarles, a former Wall Street lawyer and U.S. Treasury official, will likely strike a measured tone, with the Fed looking to avoid political friction under the chairmanship of Jerome Powell.
Quarles - Need - Post-crisis - Reforms - System
Quarles will warn of the need to retain key post-crisis reforms that have made the financial system safer, while also arguing that some can be simplified without creating new risks, according to written testimony submitted on...
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