Banking Supervision Quotes

The financial system has been turned over to the Federal Reserve Board. That Board administers the finance system by authority of a purely profiteering group. The system is Private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people's money.

The New York Federal Reserve is a tool of the big banks.

Don't act like a bank unless you are a bank. That was a really big lesson learned from 2008.

The Federal Reserve... is in the position of the chaperone who has ordered the punch bowl removed just when the party was really warming up.

The investment banks should either choose to be regulated as banks or should arrange to conduct their affairs to not require the stop-gap support of the Federal Reserve.

We need to increase the transparency of shadow banking markets so that authorities can monitor for signs of excessive leverage and unstable maturity transformation outside regulated banks.

So perhaps the most worrying single remark made by a responsible banking official during the current crisis came from Jochen Sanio, the head of Germany's banking regulator BaFin. He warned on Aug. 1 that his country could be facing the worst banking crisis since 1931 - a reference to the collapse of Austria's Kredit Anstalt, which provoked a wave of bank failures across Europe.

In the United States we have, in effect, two governments ... We have the duly constituted Government ... Then we have an independent, uncontrolled and uncoordinated government in the Federal Reserve System, operating the money powers which are reserved to Congress by the Constitution.

The Commission concludes that the banking supervisors failed to adequately and proactively identify and police the weaknesses of the banks and thrifts or their poor corporate governance and risk management, often maintaining satisfactory ratings on institutions until just before their collapse. This failure was caused by many factors, including beliefs that regulation was unduly burdensome, that financial institutions were capable of self-regulation, and that regulators should not interfere with activities reported as profitable.

You have safety and soundness as primary purpose of the Federal Reserve, the OCC, and the other agencies which control banking regulation.

Daniel Tarullo has more power of the U.S. banking system than anybody since Alexander Hamilton. That's not an exaggeration, by the way.

In order for the E.U. area to stay together, they needed to form a banking union, which meant they needed to have a common credible deposit insurance guarantee for everybody in the E.U. area.

Banking, I would argue, is the most heavily regulated industry in the world. Regulations don't solve things. Supervision solves things.

We should ban banks from risk-taking because society is going to pay the price.

I do believe that banks are special - they are very leveraged institutions by nature; therefore, it's even more critical to ensure that the governance and the process of running a banking company are well-organised, managed and regulated.

A contingent bailout policy - implicit or explicit - must be coupled with some regulation of what banks can and cannot do. For example, a ban on lending to uncreditworthy customers might well make sense.

I did not criticize the Central Bank's position.

We will follow in letter and spirit whatever the RBI rules and guidelines are - whether at the holding company level or individual company level.

My view is that Washington and the regulators are there to serve the banks.

… there must be a strict supervision of all banking and credits and investments; there must be an end to speculation with other people's money

We require two safeguards against a return of the evils of the old order; there must be a strict supervision of all banking and credits and investments; there must be an end to speculation with other people's money, and there must be provision for an adequate but sound currency.

Banks should decide on dividend increases and share buybacks after receiving the results of stress tests, when they know how much capital regulators wish them to hold.

This is very intriguing to think we should audit the Fed, but I discovered that probably if they audited the Fed, it would get a clean bill because it's undoubtedly doing exactly what it's supposed to do according to the law.

Limiting the destructive risk-taking by large financial firms and banks which are 'too big to fail' is needed.