Fed should supervise banks of all sizes – Pianalto

NEW YORK, April 14 (BestGrowthStock) – The U.S. Federal Reserve is
the only regulator that has the expertise to effectively
supervise financial firms of all sizes, a senior central bank
official said on Wednesday.

“No other agency has, or could easily develop, the degree
and nature of expertise that the Federal Reserve brings to the
supervision of banking organizations of all sizes and the
identification and analysis of systemic risks,” Cleveland
Federal Reserve Bank President Sandra Pianalto told a Levy
Economics Institute conference in New York.

Pianalto called for more consolidated supervision to plug
the gaps in regulatory oversight that became apparent during
the financial crisis.

She said it was “vital” for the Fed to not only continue to
supervise banks of all sizes, but to also take on an expanded
role in oversight of systemically important firms.

Stock Market Research Tools

Fed should supervise banks of all sizes – Pianalto