US could ease some post-crisis regulation: Fed governor

WASHINGTON (June 22): The US Federal Reserve is open to easing some banking regulations put in place after the 2008 financial crisis, including stress tests and the so-called Volcker Rule, according to a central bank governor.

In testimony to be delivered Thursday, Federal Reserve Governor Jerome Powell said some reasonable reforms could be in order. But he argued reforms made since the crisis had left the US banking sector in better condition than it was before the meltdown.

The central bank should consider adjusting regulations "in common-sense ways that will simplify rules and reduce unnecessary regulatory burden without compromising safety and soundness," Mr Powell said in prepared remarks released Wednesday.

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