Fed proposes lighter regulations for large banks

Lael Brainard objects to plans, warning they could leave taxpayers “on the hook”

US Federal Reserve building
Federal Reserve: inviting public comment on the framework until January 22, 2019

The board of the Federal Reserve has proposed reducing the regulatory burden on big banks in a new framework unveiled on October 31.

While the plans have the backing of chair Jerome Powell and vice-chair Randal Quarles, governor Lael Brainard has issued her own statement questioning the wisdom of weakening post-crisis regulations.

Under the proposals, banks with more than $100 billion in assets stand to benefit from reduced requirements. But global systemically important banks would not see

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