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2013 Press Releases
Register Now for the 2013 NMLS Annual Conference and Training
New SAFE MLO Test with Uniform State Component to Start April 1
Statement on CFPB Mortgage Servicing Transfer Bulletin
State Regulators Support CFPB’s Small Creditor Proposal under Ability to Repay
Missouri Division of Finance Receives Re-Accreditation
Multi-State Mortgage Committee Issues 2012 Annual Report to State Regulators
Three Appointed to FFIEC State Liaison Committee
New SAFE MLO Test with Uniform State Content Now Available
CSBS Proposes CFPB Adopt a Rural Designation Petition Process
State Bank Regulators Support Bill Restricting Online Payday Lending
Chairman of FFIEC State Liaison Committee Announced
Federal Reserve, CSBS To Host Community Banking Research Conference
Federal Reserve’s Foreign Bank Proposal Should Further Contemplate Existing State Supervision
Lawson Appointed to FFIEC State Liaison Committee
CSBS Releases 2012 Annual Report
James M. Cooper Named CSBS Senior Vice President
CSBS Announces 2013-2014 Board & Officers
CSBS and CFPB Sign Supervisory Framework
CSBS Immediate Past Chairman Calls for Balanced Financial Supervision
New CSBS Chairman Outlines Priorities
CSBS Warns Against Costly and Burdensome Accounting Standards
FFIEC Forms Cybersecurity and Critical Infrastructure Working Group
State Regulator Testifies on the Perils of One-Size-Fits-All Supervision
Ten More States to Use Uniform Mortgage Test; 30 States Now Using the Test
Approach to Basel III Respects Industry Diversity
NMLS 2013 State, Federal Mortgage Industry Reports Released
Michael J. Belak Named CSBS Vice President
North Dakota Banking Department Maintains Highest Standards in Bank Supervision
Iowa Division of Banking Receives Bank Re-accreditation
CSBS Supports Appointment of Steve Antonakes as CFPB Deputy Director
Oct. 2-3 Fed/CSBS Community Banking Research Conference To Be Broadcast Live from St. Louis
H. Catherine Woody Promoted to Vice President, Media & Industry Relations
Five More States to Use Uniform Mortgage Test; 35 States Now Using the Test
Federal Reserve and CSBS Release 2013 Community Banking Report
Georgia Department of Banking and Finance Receives Re-accreditation
CSBS Highlights Fed Board’s Evolving Composition, Supervisory Role
Texas Department of Banking Receives Re-Accreditation
CSBS Announces Promotions in its Technology, SRR Divisions
President Should Consider Supervisory Experience When Filling Fed Board
States Look to Coordination and Existing Regulatory Framework to Oversee Virtual Currencies
State Regulators to Discuss 2014 Outlook in On-the-Record Session with Media
Michigan Department of Insurance and Financial Services Office of Banking Receives Re-Accreditation
CSBS White Paper Encourages Federal Policymakers to Right-Size Regulations
Nebraska Department of Banking and Finance Maintains Highest Standards of Bank Supervision
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 10/24/2013 

Media Release

Conference of State Bank Supervisors
        1129 20th Street, NW, 9th Floor, Washington, DC, 20036

 CSBS Highlights Fed Board’s Evolving Composition, Supervisory Role  

Washington, D.C. – The Conference of State Bank Supervisors (CSBS) today announced the release of a new white paper titled “The Composition of the Federal Reserve Board.”  The white paper outlines the 100-year history of the Federal Reserve Board while highlighting two key trends: Congress’s continuing efforts to ensure the composition of the Board is representative of the country’s economic diversity and the Board’s expanding supervisory role.  CSBS has also released an infographic illustrating the composition of the members of the Board of Governors, in terms of background and experience, over its 100-year history.

In the paper, CSBS draws attention to the presence of diversity as a hallmark of the Board’s composition since its inception.  The paper discusses the legislative history of the Federal Reserve Act, which created the central bank, and subsequent changes in law that have focused on the importance of including diverse perspectives on the Board. 

A historical look at the Fed’s supervisory role over the years also shows a clear expansion and heightened emphasis on the central bank’s supervisory authority.  This was most recently demonstrated by the Dodd-Frank Act where Congress not only affirmed the Federal Reserve’s role as a bank supervisor, but also created the new Board role of Vice Chairman of Supervision, a clear directive from Congress to focus on issues of bank supervision. 

These two actions — enhancing the Federal Reserve’s supervisory authority and the continuing emphasis on the Federal Reserve’s governance — illustrate the importance of maintaining a tight connection between the Board of Governors and supervision.  This can only be accomplished by naming individuals to the Board of Governors with an in-depth understanding of bank supervision.

“The Federal Reserve’s significant role in the oversight of financial institutions improves its ability to identify and address emerging threats to the U.S. financial system,” CSBS President and CEO John W. Ryan said. 

“When Congress debated this issue during Dodd-Frank, Congress saw the key connections between bank supervision and the Federal Reserve’s financial stability and monetary policy functions,” Ryan said.  “CSBS supported this view and advocated strongly for preserving the Federal Reserve’s role as a bank supervisor.  But to effectively achieve these objectives, the Board must include people who know and understand supervision: individuals who have effectively supervised and regulated depository institutions.”
 
The infographic is available here.

The CSBS white paper is available here

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