Fed’s Quarles Says Market Turmoil Triggered by Covid-19 Revealed Fragile Nonbank System

Wall Street Journal, Oct. 20, 2020–Paul Kiernan (subscription)
The market turmoil triggered by the coronavirus pandemic early this year uncovered weaknesses in the U.S. financial system that regulators are seeking to fix, said Randal Quarles, the Federal Reserve’s vice chairman for supervision.
https://www.wsj.com/articles/feds-quarles-says-market-turmoil-triggered-by-covid-19-revealed-fragile-nonbank-system-11603206579?mod=lead_feature_below_a_pos1