Ryan F. Quarles: “Markets are always ahead of the regulators. Frankly, that is how it should be.”

The Federal Reserve, along with the other U.S. banking agencies, has made substantial progress in building stronger regulatory and supervisory programs since the global financial crisis.

It is not our intention. Indeed, it is the opposite of our intention, to affect the total loss-absorbing capacity of the largest firms.

I think that you can actually have more effect in really supporting the low- and moderate-income portions of the communities.

I do think that a legislature is in a better position to resist the slippery slope for that solution.