Fed Vice Chair Quarles Speaks on Post-Pandemic Reforms and Too-Big-to-Fail

Good afternoon ladies and gentlemen. I would like to thank the Exchequer Club for hosting this event, and I look forward to future events taking us back to the luncheon discussions at the Mayflower Hotel, as has been the club’s tradition now for over half a century.

This afternoon I will consider the challenges that the outbreak of the COVID-19 virus and, especially, the containment measures taken by many governments in response (which together I will call the “COVID event”) pose for the financial system and international cooperation on financial stability. I will do so in the context of a

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