Since the enactment of the Dodd-Frank Act, the Federal Reserve, both independently and in conjunction with other agencies, has made considerable progress toward adopting regulations designed to promote financial market stability, strengthen financial institutions, and reduce systemic risk to the financial system and the economy.
Bernanke highlighted progress made under Dodd-Frank to stabilize financial markets.
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If it doesn't achieve the objective of eliminating too-big-to-fail, I think we ought to come back and decide or ask Congress whether they might take additional steps.
Congress did not intend for the Federal regulators to discard the State risk-based capital system in favor of a banking capital regime.
Congress sets the mandate for the Federal Reserve, and so Congress has the right to set the mandate of course any way it likes.
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