Enter multiple symbols separated by commas

Fed Chairman Bernanke Says Banks Gain From Fed Regulation

Federal Reserve Chairman Ben Bernanke said the Fed's job of regulating the nation's banks gives the central bank more expertise in dealing with financial crises.

In a speech to an economic conference in Chicago, Bernanke argued that the United States gets significant benefits by having its central bank also involved in regulating banks. That differs from the system in place in other countries where the central bank deals only with monetary policy - the setting of interest rates - and leaves bank regulation to other agencies.

The supervisory authority of the Fed has significant collateral benefits in helping it carry out its responsibilities for financial stability," Bernanke said in his speech, copies of which were released in Washington.

The speech also will be broadcast on cnbc.com at 3:30 p.m. New York time.

Bernanke's prepared remarks didn't address the Fed's economic or policy outlook. He wasn't scheduled to answer questions.

Contact U.S. News


    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • CEO discuss the 'Buffett factor'

    John Stumpf, Wells Fargo chairman & CEO; Kenneth Chenault; American Express chairman & CEO; Ginni Rometty, IBM chairman & CEO; and Muhtar Kent, Coca-Cola chairman & CEO, discuss their relationships with Warren Buffett and marvel at just how easy it's been to communicate with him.

  • Rometty on Watson: He never stops learning

    IBM CEO Ginni Rometty talks Watson, and how it's going to help people make decisions. It never stops learning, she says. Rometty also discusses the company's dividend.

  • Why Buffett bought more IBM

    Berkshire CEO Warren Buffett addresses his purchase of more IBM shares and allegations of predatory lending at Clayton Homes.