Federal Reserve Vice Chairman for Supervision Randal Quarles on Friday gave the clearest indication yet of the central bank's intention to recalibrate the regulatory framework for the nation’s largest banks, including revisions to capital and liquidity rules.

Speaking before a conference of the American Bar Association Friday, Quarles said that the agency is reviewing its current regulatory structure for the leverage ratio — a simple ratio that requires banks to hold capital against their assets regardless of their character — and signaled the Fed may further tailor rules to distinguish between "global systemically important banks" and non-GSIBs.

Revising the leverage ratio has been a consistent focus for the industry and the Trump administration.

Read more in American Banker.