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An Update on Emerging Issues in Banking

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For Your Information An Update on Emerging Issues in Banking
FDIC Chairman Tackles Regulatory Restructuring

FDIC Chairman Don Powell

In a May 10 speech at the Federal Reserve Bank of Chicago's Conference on Bank Structure and Competition, FDIC Chairman Don Powell discussed the structure of federal bank regulation. In his remarks he addressed the issue of funding for the Office of Thrift Supervision and the Office of the Comptroller of the Currency. He also discussed the potential for consolidation of back-office functions across the regulatory agencies, the challenges these agencies face in the timely development of policy, and the need to ensure the American bank regulatory structure is efficient and effective.

Chairman Powell announced the FDIC would promote a dialogue on the subject, and requests opinion from anyone interested. Readers who wish to offer such comments by e-mail may address them to: burdenreduction@fdic.gov. Plans are also being made for the FDIC to sponsor a symposium on this issue to be held later this year.

The full text of Chairman Powell's speech is available at: http://www.fdic.gov/news/news/speeches/archives/2002/sp10may02.html.

For more information, please contact C.K. Lee, Special Advisor to the Chairman
at (202) 898-3673 or cklee@fdic.gov.

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Last Updated 05/16/2002 fyi@fdic.gov