Comptroller Thomas Curry Discusses the Globalization of Bank Supervision

Speaking at the 25th Special Seminar on International Finance in Japan, Comptroller of the Currency Thomas J. Curry discussed the challenges to bank supervision and risk management that are posed by an increasingly interconnected global banking environment.

In his remarks, Mr. Curry addressed the threat of cybersecurity, as well as U.S. efforts to implement the latest Basel III standards in harmonization with the requirements of Dodd-Frank. Praising the collaboration between regulators in Japan and the United States in implementing Basel capital standards for interest-rate risk, Mr. Curry stressed the importance of the two countries maintaining a “constructive relationship” in an ever more interconnected world.

Lofchie Comment: It is not difficult to find differing (and far more negative) views on the success of the liquidity risk rule, given the significant costs that it imposes on the securities markets. If there is a branch of government that should double in size, it is the Government Accountability Office, with its (mostly) impartial studies of the costs and benefits of various rules.

See: Text of Comptroller Thomas Curry’s Speech.

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