WASHINGTON, Oct 12 (Reuters) – The Federal Reserve announced on Tuesday that Vice Chair for Supervision Randal Quarles will no longer lead the internal committee overseeing bank rules and supervision, as his term as the central bank’s top regulatory official will expire on Oct. 13.

Instead, that panel will meet as needed on an unchaired basis, and any regulatory projects will only advance if there is “broad consensus” among Fed officials, according to a Fed spokesperson. (Reporting by Pete Schroeder Editing by Chris Reese)

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