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The Federal Reserve has a responsibility to ensure the safety and soundness of financial institutions and to contain systemic risks in financial markets.

Whether or not you have good consumer protection has a big effect on safety and soundness of the banking community, especially smaller banks.

We have put in place policies through supervision and regulation that has greatly enhanced the safety and soundness of the banking system.

The Federal Reserve has the responsibility to protect the credit rights of consumers.

Banks are concerned the central bank is imposing too many regulations. If the trend continues, we'll swing to heavy regulation. We need to have balanced regulation to encourage the economy.

Regulation is necessary, particularly in a sector, like the banking sector, which exposes countries and people to a risk.

The Reserve Bank cannot just exist; its ability to say 'no' has to be protected.

The Obama administration's plan is to have the Federal Reserve regulate banks that might pose a 'systemic risk' if they were to fail.

The Federal Reserve, like other central banks, wields powerful tools; democratic accountability requires that the public be able to see how and for what purposes those tools are being used.

My preference is for the Federal Reserve to be the systemic risk regulator, because the responsibility for identifying and limiting potential problems is a natural complement to its role in monetary policy.