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Speech
Keynote Address at the Institute for International Bankers Annual Seminar on Risk Management and Regulatory Examination/Compliance Issues
Keynote Address at the Institute for International Bankers Annual Seminar on Risk Management and Regulatory Examination/Compliance Issues.
Speech
Building Financial System Resilience
To conclude, a resilient financial system plays an important role in ensuring a strong economy. After the global financial crisis, steps were taken to shore up the resilience of the banking system. Systemically important banking institutions have higher capital and liquidity buffers and better risk-management systems than they did. The sound banking system was able to lend important support to households and businesses throughout the pandemic. But the financial system is dynamic, with new products, business models, and technologies being introduced, and the economic environment can change ...
Speech
Financial System Resilience
Today I will speak about financial system resilience, its interactions with monetary policy in the context of today’s economy, and some recommendations for increasing the resilience of the banking system. In less than two decades, the world has experienced two historically deep negative shocks to the global economy and financial system. While their causes were different, the global financial crisis of 2008 and the COVID-19 pandemic that hit in 2020 each necessitated the intervention of central banks in ways not contemplated in earlier decades. This spring, the Fed was required to intervene ...