Feds Quarles: Regulators must be careful in monitoring fin. sector risk

Feds supervision Vice ChairQuaryles comments on regulatory environment

  • Regulators must be careful in monitoring how financial sector risk is developing
  • regulators must watch growth of the fintech and cyber
  • regulators should engage industry to increase understanding of potential cyber risks
  • Sees simpler approach to US stress testing, capital requirements
  • stress testing can be much more transparent about the process

The comments are not related to Fed policy or economic activity. He may take questions from audience or press afterwards.
Later today:

  • BOE’s Taylor will be speaking (at the bottom of the hour at 1830 GMT)
  • At 3:00 PM ET/1900 GMT Canada’s Poloz will have a press conference. Expect more comments about inflation.
  • At 3:30 PM ET/1930 GMT Fed Chair Yellen will receive an award for ethics in public service.  It will be the first time Yellen will speak after Jerome Powells nomination as new Fed chair (subject to approval). 

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