A statement from John Ryan, president and chief executive officer of the Conference of State Bank Supervisors (CSBS):
“All of America owes a deep sense of gratitude to Janet Yellen and the leadership she demonstrated as Chair of the Federal Reserve Board. In the critical post-crisis years, she helped stabilize the U.S. economy and strengthen the financial system.”
“At the state level, her leadership was especially meaningful. She set a priority to make community banks a more vital part of the financial system, and to strengthen ties with state regulators. Under her leadership, the Federal Reserve undertook an effort to better tailor regulation and supervision for community banks that do not pose systemic risks.
"And with her personal participation, the Federal Reserve co-sponsored with CSBS annual research conferences on community banking. Through these conferences, numerous regulators, academics and thought leaders developed research that informed new policies at both the regulatory and legislative levels. Just this past October, Chair Yellen delivered remarks at the conference that discussed the Fed’s work.
“On behalf of all state regulators, CSBS thanks Chair Yellen for her leadership.”
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The Conference of State Bank Supervisors (CSBS) is the national organization of bank regulators from all 50 states, American Samoa, District of Columbia, Guam, Puerto Rico and U.S. Virgin Islands. State regulators supervise roughly three-quarters of all U.S. banks and a variety of non-depository financial services. CSBS, on behalf of state regulators, also operates the Nationwide Multistate Licensing System to license and register non-depository financial service providers in the mortgage, money services businesses, consumer finance and debt industries.