Quarles Says New Fed Capital Plan Undoes His 'Moderate' Changes
Also, three ex-Treasury aides back FSOC designation plan; IEX's rebate reversal
The 1,100-page capital proposal that the banking agencies dropped last week immediately drew some spirited criticism – to say the least. Four Republicans at the Fed and FDIC even voted against releasing the plan and issued pretty comprehensive (and pointed) dissents. For his part, Chair Jerome Powell offered what seemed like tepid support.
That level of…
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