In today’s testimony, I will provide an update on the Federal Reserve’s recent activities pertaining to the implementation of the Dodd-Frank Act and describe our key regulatory and supervisory priorities for 2014. I will also discuss the Federal Reserve’s expectations with regard to information security at the financial institutions it oversees.
Since testifying before this committee in July 2013, the Federal Reserve and other banking supervisors have made considerable progress in implementing the congressional mandates in the Dodd-Frank Act and otherwise improving financial stability and mitigating systemic risks.