Acting Comptroller Discusses Management of Large Banks

WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today discussed large bank manageability in remarks at Brookings.

The Acting Comptroller shared his views on detecting, preventing and addressing risks that can result in large banks becoming too-big-to-manage. He reflected that large banks that repeatedly try but fail to fix their material deficiencies prolong risks to consumers, counterparties and the financial system.

“The better a car’s brakes, the faster it can drive safely,” said Acting Comptroller Michael J. Hsu. “I believe this is useful to bear in mind as we consider the devilish details and focus large banks on the risks that can cause them to become too-big-to-manage.”

The Acting Comptroller concluded with his thoughts on the need for bank regulators to provide greater transparency on the supervisory process. He also emphasized the importance of due process and described supervisory remedies, including but not limited to business restrictions, divestitures and simplification of large banks when necessary.

Related Links

IR Press

Share
Published by
IR Press

Recent Posts

OCC Announces Enforcement Actions for November 2024

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released enforcement actions taken against…

23 hours ago

Remarks by Secretary of the Treasury Janet L. Yellen on the 30th Anniversary of the Community Development Financial Institution Fund

As Prepared for Delivery Good afternoon. It’s an honor to welcome President Clinton to Treasury today…

2 days ago

Treasury Sanctions Gazprombank and Takes Additional Steps to Curtail Russia’s Use of the International Financial System

Treasury imposes sanctions on dozens of Russian banks, securities registrars, and finance officials; OFAC issues…

2 days ago

Acting Comptroller Testifies on State of the Federal Banking System

WASHINGTON—Acting Comptroller Michael J. Hsu today testified on the state of the federal banking system…

2 days ago

Remarks by Assistant Secretary for International Finance Brent Neiman on the U.S. Cross-Border Payments Agenda

As Prepared for Delivery Thank you very much for the opportunity to be here today, and…

4 days ago