But they would reflect the fact that, absent a change in this regard, community banks  6  See Daniel K. Tarullo (2014), “A Tiered Approach to Regulation and Supervision of Community Banks,” speech delivered at the Community Bankers Symposium, Chicago, November 14. 7  80 Fed. Reg. 20153 (April 15, 2015). 8  80 Fed. Reg. 5666 (February 3, 2015).
BIS central bankers’ speeches  5  must expend scarce compliance resources to conform to the requirements of such regulations. There is, in my view, no need to make particularized prudential requirements of this sort applicable on a mandatory basis to thousands of community banks.