The US Federal Reserve's top regulator, Randal Quarles, has warned of a potential crisis if final bank guardrails are removed. Quarles emphasized the importance of maintaining safeguards to prevent reckless banking practices. This move comes as regulators consider easing restrictions on banks' risk-taking activities.

Source: https://www.ft.com/content/44faef73-4736-4bd0-9a15-388f81be12e0