CongressionalHearings/Dodd-Frank/CHRG-110hhrg44900/CHRG-110hhrg44900--21.txt We are talking about giving the Federal Reserve the power to not just get information but to deal with various things which could include capital requirements and other factors . CongressionalHearings/TARP/CHRG-110shrg50410/CHRG-110shrg50410--6.txt This role for the Federal Reserve with respect to the GSEs is consistent with the recommendation made in Treasury 's Blueprint for a Modernized Financial Regulatory Structure . CongressionalHearings/TARP/CHRG-110shrg50414/CHRG-110shrg50414--38.txt Members of Congress , the GAO , the Treasury Inspector General , and the public must review the activities of Treasury authorized by this proposed act . CongressionalHearings/TARP/CHRG-110shrg50417/CHRG-110shrg50417--14.txt Mr. Chairman , the Government 's assistance has to include significant help from Main Street as well as Wall Street . CongressionalHearings/TARP/CHRG-110shrg50417/CHRG-110shrg50417--14.txt And yesterday Secretary Paulson said , well , let us focus on auto loans and credit card loans and small business loans . CongressionalHearings/Dodd-Frank/CHRG-110hhrg45625/CHRG-110hhrg45625--184.txt In that case , the President , the Treasury Secretary , and two-thirds of the Federal Reserve Board can authorize open bank aid . CongressionalHearings/TARP/CHRG-110shrg50416/CHRG-110shrg50416--9.txt Chairman Bair has led the charge on this front , and the rest of the regulators and Treasury should follow her lead . CongressionalHearings/Dodd-Frank/CHRG-110hhrg44900/CHRG-110hhrg44900--20.txt These reports complement the Blueprint for regulatory reform issued by the Treasury in March , which focused on broader questions of regulatory architecture . CongressionalHearings/Dodd-Frank/CHRG-110hhrg46591/CHRG-110hhrg46591--227.txt First , although the Federal Reserve generally looks over the entire economy , it does not have explicit authority to look for problems and take action to address them . CongressionalHearings/Dodd-Frank/CHRG-110hhrg46591/CHRG-110hhrg46591--227.txt ABA therefore calls on Congress to establish an accounting oversight board , chaired by the chairman of the systemic regulator . CongressionalHearings/TARP/CHRG-110hhrg46593/CHRG-110hhrg46593--285.txt I have come here neither to praise the TARP nor to bury it , but rather to urge Congress to exercise its oversight authority to ensure that the Secretary of the Treasury pursues the stated goals of the legislation . CongressionalHearings/TARP/CHRG-110shrg50417/CHRG-110shrg50417--3.txt In addition , Mr. Chairman , I hope that we can get into a strong discussion about some of the broad regulatory , structural reforms that we need to consider . CongressionalHearings/TARP/CHRG-110shrg50417/CHRG-110shrg50417--3.txt This is a similar idea to the outline provided in March by Secretary Henry Paulson of the Treasury , and I for one believe we should evaluate these kinds of proposals . CongressionalHearings/Dodd-Frank/CHRG-110hhrg46591/CHRG-110hhrg46591--11.txt This committee started regulatory hearings this year , and the industry and the Treasury and others have put forward regulatory proposals . CongressionalHearings/TARP/CHRG-110hhrg46593/CHRG-110hhrg46593--10.txt Six weeks ago , Congress took the critically important step of providing important authorities and resources to stabilize our financial system . CongressionalHearings/TARP/CHRG-110hhrg46593/CHRG-110hhrg46593--10.txt Our response , in coordination with the Federal Reserve , the FDIC , and other banking regulators was a program to purchase equity in banks across the country . CongressionalHearings/Dodd-Frank/CHRG-110hhrg46591/CHRG-110hhrg46591--44.txt Mr. Seligman , '' Mr. Chairman , we have reached a moment of discontinuity in our Federal and State systems of financial regulation that will require a comprehensive reorganization . CongressionalHearings/Dodd-Frank/CHRG-110hhrg46591/CHRG-110hhrg46591--44.txt But to create a single clear crisis manager only begins analysis of what appropriate structure for Federal regulation should be . CongressionalHearings/Dodd-Frank/CHRG-110hhrg46591/CHRG-110hhrg46591--44.txt There is today an obvious and cogent case for the Federal Reserve System and the Department of the Treasury to serve as a crisis manager to address issues of systemic risk , including those related to firm capital and liquidity . CongressionalHearings/TARP/CHRG-110hhrg46596/CHRG-110hhrg46596--388.txt And when we passed it , we included therein the opportunity for the Secretary of the Treasury to establish TARP , the Troubled Asset Relief Program . CongressionalHearings/TARP/CHRG-110shrg50414/CHRG-110shrg50414--2.txt Today , we are very fortunate to be joined , as I said at the outset , by Treasury Secretary Henry Paulson , Federal Reserve Chairman Ben Bernanke , SEC Chairman Chris Cox , and the Director of the Federal Housing Finance Agency James Lockhart . CongressionalHearings/TARP/CHRG-110shrg50414/CHRG-110shrg50414--2.txt We thank the Secretary of the Treasury , Hank Paulson , who is here ; the Honorable Ben Bernanke , of course , the Chairman of the Federal Reserve ; Christopher Cox , Chairman of the Securities and Exchange Commission ; and Jim Lockhart , the Director of the Federal Housing Finance Agency . CongressionalHearings/TARP/CHRG-110hhrg46593/CHRG-110hhrg46593--14.txt Fortunately , the existence of the TARP allowed the Treasury to act quickly by announcing a plan to inject $ 250 billion in capital into U.S. financial institutions . CongressionalHearings/TARP/CHRG-110hhrg46593/CHRG-110hhrg46593--14.txt That oversight board includes the Secretary of the Treasury , the Secretary of Housing and Urban Development , the Chairman of the Securities and Exchange Commission , the Director of the Federal Housing Finance Agency , and the Chairman of the Federal Reserve Board . CongressionalHearings/TARP/CHRG-110shrg50416/CHRG-110shrg50416--170.txt The Senior Preferred Stock Purchase Agreements signed between the Enterprises and Treasury ensure consultation or agreement with the Treasury on many aspects of the Enterprises activities . CongressionalHearings/TARP/CHRG-110shrg50416/CHRG-110shrg50416--170.txt What specific steps has the Treasury Department undertaken to ensure that the funds are being used to accomplish this objective?A .3 . CongressionalHearings/TARP/CHRG-110shrg50416/CHRG-110shrg50416--170.txt Therefore , Treasury committed to provide $ 20 billion of TARP resources in support of a $ 200 billion Federal Reserve facility -- the Term Asset-Backed Securities Loan Facility -LRB- TALF -RRB- . CongressionalHearings/TARP/CHRG-110shrg50416/CHRG-110shrg50416--170.txt b. Regulation of insurance companies is undertaken at the state level , not by the Treasury Department , and Treasury does not interfere in these regulatory-supervisory matters . CongressionalHearings/TARP/CHRG-110shrg50416/CHRG-110shrg50416--170.txt The Treasury believes that banks and their management and shareholders are in the best position to determine whether acquisitions or mergers make sense . CongressionalHearings/TARP/CHRG-110shrg50416/CHRG-110shrg50416--170.txt One key measure Treasury assessed was the LIBOR-OIS spread -- a key gauge of funding pressures and perceived counterparty credit risk . CongressionalHearings/Dodd-Frank/CHRG-110hhrg46591/CHRG-110hhrg46591--3.txt After all , the Federal Reserve 's lending money to AIG is no different from the Treasury 's investing capital in a bank . CongressionalHearings/Dodd-Frank/CHRG-110hhrg44900/CHRG-110hhrg44900--9.txt And Chairman Bernanke , the Federal Reserve 's actions continue to help preserve confidence and bring stability to our financial markets and institutions . FOMC2008_csv/FOMC20080130meeting--405.txt MR. ANGULO In view of the potential exposure associated with reputational risk , market participants appear to desire additional details about banks ' dealings with ABCP programs . CongressionalHearings/TARP/CHRG-110hhrg44903/CHRG-110hhrg44903--5.txt In closing , both the Commission and the New York Federal Reserve have played crucial roles throughout the current financial crisis . CongressionalHearings/TARP/CHRG-110hhrg44903/CHRG-110hhrg44903--50.txt Chairman Cox , we had a previous hearing here in the committee on systemic risk , and we had the Chairman of the Federal Reserve here at that time and the Treasury Secretary .