Remarks by
Martin J. Gruenberg
Chairman
Federal Deposit Insurance Corporation
FDIC 16th Annual Bank Research Conference
Arlington, VA
September 8, 2016
Martin J. Gruenberg
Chairman
Federal Deposit Insurance Corporation
FDIC 16th Annual Bank Research Conference
Arlington, VA
September 8, 2016
1
Introduction
First, let me begin by welcoming you to the FDIC’s 16th Annual Banking Conference.
Each year, this event provides an important opportunity for the FDIC’s researchers and analysts
to engage with and learn from leading scholars.
Research has long been a core function of the agency, informing the FDIC from its
earliest days.
In 1934, the FDIC’s Board established the Division of Research and Statistics. As
recounted in that year’s annual report, the division was staffed by a manager; six research
assistants and technicians; and 20 calculating machine operators, clerks, and stenographers.
In its first year, this modest unit developed uniform 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. As you may recall, 1933 was not a
particularly good year for banking, with an estimated 4,000 bank failures. So I can imagine that
this research was greatly appreciated.
Research and analysis is more important than ever to the effectiveness of the FDIC. The
present-day Division of Insurance and Research (DIR) works with the other divisions and offices
to help carry out our mission to maintain financial stability and public confidence in the nation’s
financial system.
During the recent crisis, research was vital to carrying out the FDIC’s mission. Accurate
information and careful analysis are the foundation of sound decision-making. Fair to say, we
regularly turned to DIR for both during the crisis.
Introduction
First, let me begin by welcoming you to the FDIC’s 16th Annual Banking Conference.
Each year, this event provides an important opportunity for the FDIC’s researchers and analysts
to engage with and learn from leading scholars.
Research has long been a core function of the agency, informing the FDIC from its
earliest days.
In 1934, the FDIC’s Board established the Division of Research and Statistics. As
recounted in that year’s annual report, the division was staffed by a manager; six research
assistants and technicians; and 20 calculating machine operators, clerks, and stenographers.
In its first year, this modest unit developed uniform 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. As you may recall, 1933 was not a
particularly good year for banking, with an estimated 4,000 bank failures. So I can imagine that
this research was greatly appreciated.
Research and analysis is more important than ever to the effectiveness of the FDIC. The
present-day Division of Insurance and Research (DIR) works with the other divisions and offices
to help carry out our mission to maintain financial stability and public confidence in the nation’s
financial system.
During the recent crisis, research was vital to carrying out the FDIC’s mission. Accurate
information and careful analysis are the foundation of sound decision-making. Fair to say, we
regularly turned to DIR for both during the crisis.