Federal Reserve Board Member Discusses Modernizing Financial Regulation and Supervision

A Federal Reserve Board member delivered remarks on the ongoing efforts by the Financial Stability Board's Standing Committee on Supervisory and Regulatory Cooperation (SRC) to modernize financial regulation and supervision globally. The discussion highlighted principles guiding these efforts, including prioritizing material financial risks, enhancing tailoring and proportionality, and enabling responsible innovation, with a focus on applying these in the United States.