Beyond this primary mandate, we at the Federal Reserve are also responding to the challenge of ensuring that all communities can fully participate in our growing prosperity. With our Community Affairs program we provide information, instruction, and technical assistance to a diverse range of constituents regarding community reinvestment, community economic development, fair lending, and related issues.
The ECB’s overall responsibility for supervision is matched by controlling powers over the system as a whole. The ECB has the power to overtake direct supervision of any bank or group of banks, if this is deemed necessary in order to preserve financial stability and confidence in the institutional framework. The centre monitors also that adequate supervisory quality prevails in national competent authorities.