Randal K. Quarles

Chair of the FSB

Governor and Vice Chairman for Supervision, US Federal Reserve

Randal K. Quarles took office as a member of the Board of Governors of the Federal Reserve System in October 2017, and was appointed Vice Chair for Supervision at the same time. He became Chair of the FSB in December 2018.

Mr Quarles received an A.B. in philosophy and economics, summa cum laude, from Columbia in 1981 and a law degree from the Yale Law School in 1984.

Prior to his appointment to the Federal Reserve Board, Mr Quarles founded and was managing director of the Cynosure Group and a partner at The Carlyle Group. Mr Quarles served as Under Secretary for Domestic Finance at the US Treasury and as Assistant Secretary for International Affairs. 

Prior to, and in between, his service at the Department of the Treasury, Mr. Quarles was a partner at Davis Polk & Wardwell in their New York and London offices. He also served as the US Executive Director of the International Monetary Fund.

Latest

3 October 2019 The Financial Stability Board at 10 Years—Looking Back and Looking Ahead

Remarks by FSB Chair Randal K. Quarles at the European Banking Federation’s European Banking Summit in Brussels.

26 September 2019 Government of Union: Achieving Certainty in Cross-Border Finance

Remarks by FSB Chair Randal K. Quarles at an FSB workshop on pre-positioning, ring-fencing, and market fragmentation in Philadelphia.
Content Type(s): Speeches Policy Area(s): Resolution and Crisis Management, SIFIs

25 June 2019 FSB Chair’s letter to G20 Leaders meeting in Osaka

Letter from the FSB Chair to G20 Leaders ahead of their Summit in Osaka.

25 June 2019 FSB press briefing: Chair’s opening statement

Opening statement by FSB Chair Randal K. Quarles for an FSB press briefing.

24 June 2019 The Financial Stability Board: Moving to the next phase

Article by FSB Chair Randal K. Quarles in the magazine Japan: The Osaka Summit published by the G20 Research Centre at the University of Toronto.

10 April 2019 Progress on the Transition to Risk-Free Rates

Remarks by FSB Chair Randal K. Quarles at an FSB roundtable on reform of major interest rate benchmarks in Washington DC.
Content Type(s): Multimedia, Press, Speeches Source(s): FSB Policy Area(s): Financial Benchmarks

2 April 2019 The Financial Stability Board: Beyond the Fog of Battle

Remarks by FSB Chair Randal K. Quarles in Brussels.

28 March 2019 The Financial Stability Board in 2019

Remarks by FSB Chair Randal K. Quarles in Frankfurt.