Federal Reserve Board FRB Governor Michelle Bowman gave remarks last week to American Bankers Association ABA Community Banking Conference. Governor Bowman discussed role of FRB independence, predictability, tailoring in FRB’s Bank Regulatory and Supervision function.
<p><span>Today, I would like to talk about the future of supervision and regulation of the largest banks, which changed significantly after the financial crisis 14 years ago and has evolved more gradually over the past 5 years. As the backdrop for this look into the future, it is important to recognize that this recent past for supervision and regulation has been a success, resulting in a banking system that is safer, stronger, better capitalized, and more resilient. This is particularly true for oversight of the largest banks, including global systemically important banks (GSIBs), and their central role in the financial system. As supervision and regulation have been refined in recent years, the largest banks have maintained high levels of capital, and their resilience has been repeatedly confirmed by both supervisory and real-life stress tests. Most notably, the U.S. financial system faced the onset of the pandemic in the spring of 2020, which disrupted financial markets
Federal Reserve Gov. Michelle Bowman said Friday that the central bank should weigh financial stability risks against stalled growth as it considers refinements to the bank capital framework and merger rules.
Jet Flight, Mail Bags, And Banking Regulation, Federal Reserve Vice Chair For Supervision Randal K. Quarles, At The Prudential Regulation Conference (Via Webcast) Date
03/06/2021
As many of you know, I am speaking to you from Salt Lake City, which, among its myriad other virtues, was the home of one of the earliest passenger airlines Western Air Express, which ran its first passenger flight in the spring of 1926: Eight hours in a Douglas M2 between Salt Lake City and Los Angeles, with one stop in Las Vegas for fuel. Two of the first passengers sat on the mail sacks in the back, and those early plane travelers were adventurers in other ways as well. That year there were 12 fatal commercial airplane crashes and that number rose to 59 a year by 1930. That s not total deaths that s fatal crashes, with many people on each plane. Comparing hours flown and number of flights, that would be as if we had 7,000 fatal airplane crashes in a typical year today, with hundreds of thousands d