September 28, 2022
Jerome H. Powell Chair
At the 2022 Community Banking Research Conference, sponsored by the Federal Reserve, Conference of State Banking Supervisors, and Federal Deposit Insurance Corporation, St. Louis, Missouri (via pre-recorded video)
Link to video of President Powell’s pre-recorded remarks: https://youtu.be/s-cKJhfLo2Y
Hello and welcome to the 10th Annual Community Banking Research Conference. I have attended this conference twice, the first in 2013, and I can attest to the quality of the research and the discussions. As I come to you virtually today, many of you are meeting in person for the first time in three years. I’m sure it will make a great event even more enjoyable.
The Community Banking Research Conference brings together researchers, regulators, policy makers and community bankers to discuss the unique and important role that community banks play in our economy. The conference was launched in the years following the financial crisis, in conjunction with the Federal Reserve, the Conference of State Banking Supervisors (CSBS), and the Federal Deposit Insurance Corporation (FDIC). The conference was designed to deepen our understanding of the community banking business model and to provide a forum to discuss research with academics, policymakers, regulators and community bankers.
Research presented over the years has informed debates about surveillance and regulatory policy and continues to challenge our thinking. He highlighted the vital links between community banks and small businesses, the availability of credit in low- and moderate-income communities, how community banks support their local communities in times of crisis, and the impact of technology.
A key feature of research sessions is that community bankers join academic moderators to provide commentary from a practitioner’s perspective. The challenges facing community banks have changed significantly over the past 10 years. Community banks have shown remarkable resilience, and conferences like this have helped regulators and supervisors better understand these changes.
I would like to commend the Federal Reserve Bank of St. Louis for a decade of hosting an important and informative conference.
And I want to thank our colleagues at the Fed, the FDIC, and the Conference of State Banking Supervisors. On a sadder note, I want to acknowledge the passing of John Ryan, who was president of CSBS, last May. John’s impact on CSBS and his contributions to the financial services industry as a whole have been significant, and he is missed by all who knew and worked with him.
Thanks also to the researchers and all the community banking professionals for their insight and contributions over the years.
Thank you all and have a good conference.