Federal Reserve Board Governor Michelle W. Bowman advocated for a balanced approach of prudent supervision and international collaboration to address financial stability risks.
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Federal Reserve Board Vice Chair for Supervision Michael S. Barr described the recent "endgame" proposal to raise capital requirements for large banks as "the last major plank to address gaps in regulation dating from the Global Financial Crisis" and argued that "the benefits of the proposal would outweigh the costs."
FDIC Chair Martin J. Gruenberg and Federal Reserve Board Governor Michelle W. Bowman considered community banking reforms and applying lessons learned from recent bank failures.
Federal Reserve Board Governor Michelle W. Bowman recommended steps to ensure that banking reforms focus on "remediating identified issues" and that supervisory priorities are "aligned with the most pressing needs demonstrated by recent events."
Federal Reserve Board Chair Jerome H. Powell swore in FRB Governor Philip N. Jefferson as Vice Chair, and FRB Governor Lisa D. Cook and Dr. Adriana D. Kugler as Board members.