Bloomberg Randal Quarles, the Federal Reserve’s vice chairman for supervision, is vying with the head of the Dutch central bank to lead a watchdog panel for the global financial system. Quarles, the US central bank’s chief Wall Street regulator, and Klaas Knot are the front-runners to lead the Basel-based Financial Stability Board after Mark Carney steps down on Dec. 1, ...

Bloomberg Italian assets were roiled yet again after a prominent euroskeptic said that the nation could resolve its debt problems with its “own currency.” The yield on the nation’s 10-year bonds touched the highest level in more than four years after Claudio Borghi, head of the lower house budget committee, said the euro was “not sufficient” to solve Italy’s fiscal ...

Bloomberg Wells Fargo & Co. hasn’t yet satisfied one of the regulators responsible for deciding whether the bank is properly reimbursing customers who might have been harmed by recent scandals involving its auto-lending and mortgage businesses. “We are not comfortable where we are with them,” Joseph Otting, chief of the Office of the Comptroller of the Currency, told senators at ...