The Federal Reserve will continue to work with the Congress, other regulators, and the private sector to explore this and other strategies to increase financial stability. When we last met here in Jackson Hole, the nature of the financial crisis and its implications for the economy were just coming into view. A year later, many challenges remain.
The benefit to the financial system will accrue from seamless access of CMS to the Nodal Officers of banks / Financial Service Providers(FSPs). CMS can generate various reports for monitoring and managing complaints pertaining to each entity.