Fed's Quarles does not comment on monetary policy, economy

PALO ALTO, Calif. (Reuters) - The Federal Reserve is "helping community banks remain competitive" and continue to play a central role in rural communities, in part by reducing regulations for smaller banks, Fed Governor Randal Quarles told the Stanford Institute for Economic Policy Research on Wednesday.

He did not comment on the economic outlook or monetary policy in his prepared remarks, which focussed on banks in the Western United States.

(Reporting by Ann Saphir; Editing by Sandra Maler)