In remarks delivered at the recent Joint European Banking Authority and European Central Bank International Conference, US Acting Comptroller of the Currency Michael Hsu discussed how supervision has evolved in recent decades, and what supervisors can do to remain effective in today's rapidly changing environment.
He highlighted the distinction between supervision and regulation, emphasizing supervision's role in promoting safe practices through ongoing interactions with banks. Hsu likened supervision to a "ground game," where consistent engagement helps banks maintain discipline and improve risk management. He pointed out that recent cyber resilience in the banking sector, as demonstrated during the CrowdStrike incident, was a result of these long-term supervisory efforts.
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