Federal Reserve Board Governor Michelle W. Bowman outlined her perspective on supervision and regulation of the banking industry and highlighted the costs of over-regulation.
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OCC Comptroller Michael Hsu cautioned that "tail risks" ("low probability, high impact risk events") have increased as a result of Russia's invasion of Ukraine. He also described tail risk factors associated with the trading of crypto-related derivatives.
Former Vice Chair for Supervision Randal K. Quarles covered a broad range of topics in his farewell remarks. He celebrated the overall strength of the banking system and suggested areas where there is latitude for regulatory change or recalibration.