In another speech, Boston Fed President Eric Rosengren said rigorous stress tests and hefty capital requirements have helped make the biggest U.S. banks more resilient than their foreign counterparts to financial market swings.
The major U.S. stock averages also rose on Friday.
In oil markets, Brent crude traded at $41.22 a barrel, down 0.8 percent, while U.S. crude was at $39.68, down 1.3 percent.
On the data front, consumer sentiment came in at 90, below the expected 92.2 reading.
"Bottom line, a lift in the stock market off the mid February lows was not reflected in this consumer confidence read and the index looks like it has topped out for this cycle as January '15 was the top at 98.1. That said, confidence remains pretty consistent over the past year although it tells us nothing about how consumers will behave in months and quarters to come as it's just a coincident indicator. It therefore is not market moving either," Peter Boockvar, chief market analyst at The Lindsey Group, said in a note.