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Fed Will Cool Its Jets On Stress Capital Buffer Proposal

Law360 (November 9, 2018, 6:17 PM EST) -- The Federal Reserve’s vice chairman for supervision said Friday that the central bank is rethinking parts of its stress capital buffer proposal in response to concerns raised by the banking industry and won’t be looking to implement it before 2020.

In a speech in Washington, D.C., at the Brookings Institution, Vice Chair Randal Quarles said that the industry’s concerns don’t necessarily doom the Fed’s proposal that would replace a current fixed-size capital buffer for large banks with one whose size would be based on banks’ stress test results, but they do point to some rough edges that could use “further refinement.”...

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