The regulation and supervision of financial institutions must be nimble to address new risks to safety and soundness and financial stability, but should always consider tradeoffs and potential unintended consequences, like increasing the cost of lending or pushing financial activities outside of the regulatory perimeter into the shadow banking system.
I look forward to working with Vice Chair  7/8  BIS - Central bankers' speeches  Barr, my fellow Board members, and colleagues at the other bank regulatory agencies, as we consider the evolution of supervision and regulation for the largest financial institutions.