{"id":359294,"date":"2010-02-24T10:26:56","date_gmt":"2010-02-24T15:26:56","guid":{"rendered":"http:\/\/blogs.wsj.com\/economics\/2010\/02\/24\/bernanke-says-fed-actively-ramping-up-bank-supervision\/"},"modified":"2010-02-24T10:26:56","modified_gmt":"2010-02-24T15:26:56","slug":"bernanke-says-fed-actively-ramping-up-bank-supervision","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/359294","title":{"rendered":"Bernanke Says Fed Actively Ramping Up Bank Supervision"},"content":{"rendered":"

There\u0092s been a lot of talk on Capitol Hill about who should be given the power to oversee the country\u0092s largest financial companies. Based on Federal Reserve<\/strong> Chairman Ben Bernanke<\/strong>\u0092s testimony<\/a> to the House Financial Services Committee<\/strong> on Wednesday, it sounds like Fed officials aren\u0092t waiting around for Congress to act.<\/p>\n

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Fed Chairman Ben Bernanke (Reuters)<\/dd>\n<\/dl>\n<\/div>\n

Here are some quick takeaways from Mr. Bernanke\u0092s testimony, directly related to bank supervision.<\/p>\n

1)<\/strong> The Fed is conducting \u0093an intensive self-examination of our regulatory and supervisory responsibilities\u0094 and is \u0093actively implementing improvements.\u0094<\/p>\n

2)<\/strong> The Fed is \u0093overhauling supervisory framework and procedures to improve coordination within our own supervisory staff\u0094 and with other agencies.<\/p>\n

3)<\/strong> The Fed is developing an \u0093enhanced quantitative surveillance program for large bank holding companies.\u0094 Mr. Bernanke said supervisory information will be \u0093combined with firm-level, market-based indicators and aggregate economic data to provide a more complete picture of the risks facing these institutions and the broader financial system.\u0094<\/p>\n

4)<\/strong> Mr. Bernanke argues in favor of retaining key supervisory powers at the Fed. \u0093The recent crisis has also underscored the extent to which direct involvement in the oversight of banks and bank holding companies contributes to the Federal Reserve’s effectiveness in carrying out its responsibilities as a central bank, including the making of monetary policy and the management of the discount window. Most important, as the crisis has once again demonstrated, the Federal Reserve’s ability to identify and address diverse and hard-to-predict threats to financial stability depends critically on the information, expertise, and powers that it has by virtue of being both a bank supervisor and a central bank.\u0094<\/p>\n

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There\u0092s been a lot of talk on Capitol Hill about who should be given the power to oversee the country\u0092s largest financial companies. Based on Federal Reserve Chairman Ben Bernanke\u0092s testimony to the House Financial Services Committee on Wednesday, it sounds like Fed officials aren\u0092t waiting around for Congress to act. Fed Chairman Ben Bernanke […]<\/p>\n","protected":false},"author":850,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-359294","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/359294","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/850"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=359294"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/359294\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=359294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=359294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=359294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}