My time as president of the Federal Reserve Bank of Philadelphia has deepened my appreciation of our nation’s decentralized central bank. I have great respect for the institution and the people who serve here in Philadelphia and around the Federal Reserve System.
In terms of financial stability, the BSP continues to foster a regulatory environment that is both enabling to emerging trends and effective in managing new risks. The BSP’s policy reform agenda aims to strengthen risk governance in banks by setting out standards that promote continued enhancement of banks’ risk management systems.