Good afternoon and thank you for the invitation to join you at the Hoover Institution's annual Monetary Policy Conference.1 As the Federal Reserve's Vice Chair for Supervision, I oversee the safety and soundness of banking institutions, responsibilities that are closely linked to another of the Fed's important duties, which is to safeguard financial stability. Instead of talking about monetary policy, my remarks will focus on this topic. Today, I will address a challenge that emerges at the intersection of these two responsibilities. That is, when regulatory requirements become disproportionately burdensome relative ... (full story)