In a speech delivered at a recent conference hosted by the US Federal Reserve Banks of Dallas and Atlanta, Federal Reserve Board Governor Michelle W. Bowman addressed how the regulatory and supervisory framework should be reformed following the bank failures of 2023.
She stressed the importance of understanding the underlying causes of bank failures and addressing the fundamental issues. "Last year's banking stress highlighted the need for improvements in bank supervision,” Bowman argued. “An important step in the reform agenda—and one of the most effective reforms to build resilience against future banking stress—is to improve the prioritization of safety and soundness in the examination process,” she added.
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