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Remarks by FDIC Chairman Martin J. Gruenberg to The 2023 Community Banking Research Conference Sponsored by the Federal Reserve System, the Conference of State Bank Supervisors (CSBS), and the FDIC
Introduction
Good afternoon. It is a pleasure to address this year’s Community Banking Research Conference. I want to begin by commending the organizers for once again bringing community bankers, researchers, and policy makers together in what I believe is a one-of-a-kind venue that we are proud to co-sponsor, along with the Federal Reserve and the Conference of State Bank Supervisors.
We are celebrating the 90th anniversary of the establishment of the FDIC this year. The Community Banking Research Conference is an example of the important role that research has played at the FDIC since the FDIC was created by the Banking Act of 1933. In fact, in the FDIC’s first full year of operation in 1934, the FDIC Board established the Division of Research and Statistics. During that first year, and amid extraordinary banking stress, the Division developed data on the condition of 93 percent of licensed commercial banks in the United States, conducted a study of depositor losses from 1865 to 1934, and analyzed efforts to stabilize the banking system. Ninety years later, the FDIC remains similarly reliant on and committed to high quality bank data, analysis, and research to inform our important work of maintaining the stability of the banking system and financial sector.
Conferences like this one play an important role in advancing these research efforts and stimulating discussion on important policy issues. I am pleased to see that the papers in this conference tackle important issues for today’s community banks: from interest rate risk and depositor runs, to the effects of extreme weather events and the assessment of credit risk.
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