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US Fed sets up financial stability division

Friday 5 November 2010 - by Nicola York

The US Federal Reserve Board has established an Office of Financial Stability Policy and Research which will bring together economist, banking supervisors and markets experts in the Fed to support its financial stability work.

The office will develop and coordinate staff efforts to identify and analyse potential risks to the financial system and the broader economy, including through the monitoring of asset prices, leverage, financial flows, and other market risk indicators.

It will also follow developments at key institutions; and analyse policies to promote financial stability.

It will also support the supervision of large financial institutions and the Board's participation on the Financial Stability Oversight Council. 



Board economist J. Nellie Liang has been appointed as its director. Liang joined the Board in 1986, acting most recently as a senior associate director in the Division of Research and Statistics.


She helped to form the Federal Reserve's response to the financial crisis and also helped lead the bank stress tests in 2009.

Federal Reserve Chairman Ben S. Bernanke said. "The financial stability team will play an important role in implementing the Dodd-Frank Wall Street Reform and Consumer Protection Act, in our oversight of systemically important financial institutions, and in our overall surveillance of the financial markets and the economy."


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