Janet Yellen, vice chair of the Federal Reserve and President Obama’s nominee for Fed chairman, will call for limiting community banks' regulatory burden during her Senate confirmation hearing.
“I believe that capital and liquidity rules and strong supervision are important tools for addressing the problem of financial institutions that are regarded as ‘too big to fail,’” Yellen will say in her testimony. “In writing new rules, however, the Fed should continue to limit the regulatory burden for community banks and smaller institutions, taking into account their distinct role and contributions.”
Yellen’s testimony will also address the Fed’s performance on monetary policy, economic growth and responding to the financial crisis.
Read the testimony.