Insights & Publications
Diversity & Inclusion
© 2023 Debevoise & Plimpton LLP
Back to Top
Fed Vice Chair Quarles Calls for Significant Changes to the Supervisory Process:
Implications and Open Questions for the Banking Industry
6 February 2020
View Debevoise In Depth
In a recent speech to the American Bar Association Banking Law Committee, Vice Chair Randal Quarles called for greater “transparency and clarity” in the Federal Reserve Board’s framework for supervising financial institutions and introduced a series of steps the agency may take to that end.
The Vice Chair’s recommendations address large bank supervision, improved transparency, and overall supervisory process improvements. The recommendations suggest that the Federal Reserve Board may be entering a period of greater and more productive engagement with the financial industry, and greater alliance with the general norms and practices of U.S. administrative law.
This analysis summarizes Vice Chair Quarles’s speech, discusses its potential implications for the banking industry, and considers how the Federal Reserve Board may implement and improve upon the Vice Chair’s recommendations.
Satish M. Kini
Gregory J. Lyons
Alison M. Hashmall
UK Modern Slavery Act Transparency Statement
Debevoise Login (2)
Debevoise Women's Review