Federal reserve to deregulate US banking sector via tailored approach

Federal reserve to deregulate US banking sector via tailored approach
  • Clock-gray 03:14
  • calendar-gray 21 January 2018

The Fed chief of supervision says existing banking sector regulations are too tough and standardized, and could be relaxed and customized to promote commercial bank lending, investment, and stock market trading, APA reports quoting Sputnik.

 

Kristian Rouz — the Federal Reserve's top supervision official — has laid out his deregulatory agenda aimed at easing controls over bank liquidity and capitalization. The central bank is set to welcome its new chair, Jerome Powell, in February, a man widely expected to bring monetary policies in line with President Trump's approach to the economy and trade.

 

The Fed's Vice Chair of supervision Randal Quarles said the central bank will focus on several crucial changes in its regulation of Wall Street. These include relaxed capital rules, proprietary trading, and a crackdown on taxpayer bailouts at the central bank's or the government's expense.

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