The following can be attributed to Matt Well, spokesperson for the Regional Bank Coalition (RBC), in response to remarks made by Federal Reserve Vice Chairman for Supervision Randal K. Quarles’ at the American Bar Association Banking Law Committee Annual Meeting on January 19.
“We appreciate Vice Chairman Quarles’ comments in support of tailored regulations for non-GSIBs, including by a factors-based threshold approach. Moving to a comprehensive risk-based approach has existing bipartisan support in Congress and ensures that regional banks that pose little risk to the financial system are regulated appropriately. This important move will ultimately strengthen our economy and ensure the safety and soundness of the financial system, as well as spur Main Street growth. We urge the Hill to enact a risk-based approach in its tailoring of regulations.”