Randal Quarles, vice chairman for supervision at the Federal Reserve, wants a review of capital requirements for foreign banks and possible streamlining of resolution rules in the event a bank fails. Recalibration "could better the prospects of successful resolution for both foreign [global systemically important banks] operating in the United States, and for US G-SIBs operating abroad," according to Quarles. Addressing an audience at Harvard Law School, Quarles specifically said he wanted the Fed to review the level of total loss-absorbing capital it requires foreign banks to hold internally, Reuters reported.