This work is carried out by staff in that office as well as in many areas across the Board and is overseen by the Board’s newly created Committee on Financial Stability. This work is proceeding in four pillars, which are in varying stages of advancement.
1  See Ben S. Bernanke (2013), “A Century of U.S. Central Banking: Goals, Frameworks, Accountability”, speech delivered at “The First 100 Years of the Federal Reserve: The Policy Record, Lessons Learned, and Prospects for the Future”, a conference sponsored by the National Bureau of Economic Research, Cambridge, Mass., July 10.