December 6, 2018 / 2:13 AM / 7 days ago

Fed's Quarles repeats U.S. financial stability risks 'moderate'

FILE PHOTO: Federal Reserve Vice Chairman for Supervision Randal Quarles addresses the Economic Club of New York in New York City, U.S., October 18, 2018. REUTERS/Brendan McDermid/File Photo

PALO ALTO, Calif. (Reuters) - Randal Quarles, vice chair for supervision at the Federal Reserve, on Wednesday said financial stability risks in the U.S. financial system are “moderate,” repeating the assessment in a recently released report from the central bank.

“At the moment we are comfortable that the level of overall financial stability risks is moderate,” Quarles said at a symposium held at the Stanford Institute for Economic Policy Research focused on banking. He also said he believes laws and rules put in place since the financial crisis have given policymakers enough flexibility to deal with the potential failure of a large bank. “For me, solving ‘too big to fail’ was to give them (policymakers) more options, and I think we have,” he said.

Reporting by Ann Saphir; Editing by Lisa Shumaker

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