Contact: Laura Peavey
(202) 457-8770
lpeavey@fsforum.com
Forum Welcomes Proposal to Refine Large Bank Supervisory Ratings
“Reforms will not only strengthen the oversight of large financial institutions, but also promote greater confidence among investors, consumers, and the broader economy.”
Washington D.C. – Financial Services Forum President and CEO Kevin Fromer issued the following statement today after the Federal Reserve Board issued a proposal to refine the Large Financial Institution rating system:
“This is a welcome development to help focus supervision on material, financial risks and create a better balance with the assessment of overall large bank management.
“Supervisory ratings for the largest banks should better reflect the quality of their capital and liquidity, as those measures are key to the strength and resilience of these institutions. We commend the Federal Reserve for its commitment to improving the supervisory landscape and for recognizing the importance of a properly focused and balanced rating system. Reforms will not only strengthen the oversight of large financial institutions, but also promote greater confidence among investors, consumers, and the broader economy.
“We look forward to reviewing the proposal in detail and providing our comments.”
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The Financial Services Forum is an economic policy and advocacy organization whose members are the eight largest and most diversified financial institutions headquartered in the United States. Forum member institutions are a leading source of lending and investment in the United States and serve millions of consumers, businesses, investors, and communities throughout the country. The Forum promotes policies that support savings and investment, financial inclusion, deep and liquid capital markets, a competitive global marketplace, and a sound financial system.