On November 7, 2017, Randal Quarles made his first public address after being formally sworn in as the new Vice Chairman for Supervision of the US Board of Governors of the Federal Reserve System at The Clearing House's Annual Conference in New York. Although Quarles's remarks have not yet been posted publicly, he notably called for taking a "fresh look" at various Dodd- Frank regulatory requirements, including stress testing, living wills and the leverage ratio. Although he generally did not discuss any specifics, he indicated his support for improving transparency, including seeking input for how to improve the Federal Reserve's stress testing process. He also expressed support for tailoring regulation to reflect the risks associated with a bank's activities and not just its size. Specifically, he noted that making adjustments to the $50 billion threshold for enhanced prudential supervision under Section 165 of the Dodd-Frank Act are not dependent on Congressional action.

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