This story appeared in Bank Digest.
Federal Reserve Board Vice Chair for Supervision and Financial Stability Board Chair Randal K. Quarles spoke at the European Banking Federation’s European Banking Summit in Brussels, Belgium, on Oct. 3, 2019. The subject of his prepared remarks was “The Financial Stability Board at 10 Years—Looking Back and Looking Ahead.”
Noting that 2019 marks the 10th anniversary of the founding of the Financial Stability Board, Quarles said he wanted to “look back on the experiences of the past 10 years, what the FSB has accomplished, and also offer some perspective on just how it contributed to the construction of the post-crisis global financial architecture.” He also discussed “the new challenges facing the global regulatory community, such as innovations in financial technology, shifts in financial globalization and integration, and increasing nonbank financial intermediation.”