On February 21st, Jin10 Data reported that Randal Quarles, Vice Chairman of the Federal Reserve responsible for financial supervision, warned on Thursday that the weakening of banking rules and regulations could make businesses vulnerable to sudden shocks. Quarles cautioned against significantly weakening existing banking rules and regulations, urging regulatory agencies to adhere to international capital standards. Quarles will step down from his position as Vice Chairman of Supervision at the end of February.
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Federal Reserve Vice Chairman of Supervision warns against relaxing bank rules
On February 21st, Jin10 Data reported that Randal Quarles, Vice Chairman of the Federal Reserve responsible for financial supervision, warned on Thursday that the weakening of banking rules and regulations could make businesses vulnerable to sudden shocks. Quarles cautioned against significantly weakening existing banking rules and regulations, urging regulatory agencies to adhere to international capital standards. Quarles will step down from his position as Vice Chairman of Supervision at the end of February.