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Quarles lays out map of regulations

WASHINGTON (AP)  The Federal Reserve's top official on financial regulation is putting forward a wide-ranging agenda for improving the way the nation's banks are regulated, saying he wants to focus on "efficiency, transparency and simplicity."

Randal Quarles, the Fed's vice chairman for supervision, said Friday that he is looking at such things as improving the Fed's annual stress test of the nation's biggest banks  the rules governing the capital cushion banks are required to hold against loan losses  and the "living wills" the biggest banks have to draw up to show how they can be shut down if they become insolvent.

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