elizabeth a duke : opening remarks at the public hearing on potential revisions to the home mortgage disclosure act opening remarks by ms elizabeth a duke, member of the board of governors of the federal reserve system, at the public hearing on potential revisions to the home mortgage disclosure act, atlanta, 15 july 2010. * * * on behalf of the board of governors of the federal reserve system, i ’ d like to welcome the participants to today ’ s hearing. i ’ d also like to express my appreciation to president lockhart and our colleagues at the federal reserve bank of atlanta for hosting us today. i am pleased to be here at the first in a series of public hearings regarding changes to the home mortgage disclosure act ( hmda ). the board has scheduled these hearings to assess the adequacy of the current mortgage data requirements and examine the need to collect additional data from lenders. i would point out that since we began planning these hearings, changes to the hmda data requirements have been included in the regulatory reform bill currently being considered by the congress. we look forward to hearing your comments regarding the implementation of the changes specified in that legislation, as well as changes you might recommend based on your experience. the proposed legislation also would transfer authority for hmda rulemaking from the board of governors to the new consumer financial protection bureau ( cfpb ). all information gleaned from these hearings will inform our rulewriting work. when rulemaking authority transfers to the cfpb, be assured that we will hand over the most current thinking about changes to regulation c. over the course of four public hearings, held throughout the country, we will hear from key players in the home mortgage market : lenders and other market participants, academics and researchers, consumer advocacy and community development organizations, data experts, regulators, and other public officials. although they play different roles, all share a common goal : to ensure that the mortgage market is responsible, transparent, efficient, and serves the needs of consumers and market participants alike. clearly, the recent mortgage crisis has highlighted the potential ramifications of a mortgage market that is not functioning well. data do not create the market, but they do help us understand what is happening in the market. hmda data cannot solve all market problems, but the time is ripe for reviewing and revising the data elements, standards, and reporting formats. with the benefit of hindsight, we can now answer the question : do policymakers have adequate and reliable data sufficient to assess market

frank elderson : prudential pathways to paris contribution by mr frank elderson, member of the executive board of the european central bank and vice - chair of the supervisory board of the ecb, on the panel “ sustainable finance : what is expected from transition scenarios? ” at the eurofi high level seminar 2022, frankfurt am main, 23 february 2022. * * * many thanks to the organisers for letting me participate remotely in this panel alongside such distinguished speakers. and thank you to the chair of the panel for allowing me to open the discussion with some remarks on the importance of transition planning. i fully appreciate the irony of what i ’ m about to say, what with you in paris and me here on - screen, but we are all on the path to paris. citizens, firms, banks and prudential supervisors alike are working towards the climate goals agreed in 2015 as the eu and national governments roll out policies implementing the paris agreement. in previous speeches, i have stressed the need for banks to put in place transition plans compatible with eu policies implementing the paris agreement – plans with concrete intermediate milestones to enhance banks ’ long - term strategies and decision - making. more and more banks are already doing this themselves, while the european commission also called for enhanced transition planning in its sustainable finance strategy published in july 2021. for ecb banking supervision, the main concern that needs to be addressed by these transition plans is the level of banks ’ risk exposures and the effectiveness of their controls. have the exposures been sufficiently mitigated and are they prudent? as climate - related and environmental risks become increasingly widespread and more material, banks will, inevitably, be exposed to them, through both physical and transition risks. banks therefore need adequate risk mitigation measures in place. this is what we need to assess as the prudential supervisor. introducing a legal requirement for banks to have a clear, detailed and prudent transition plan in place would increase the consistency of the regulatory and supervisory framework and contribute to maintaining a level playing field. needless to say, we are very happy to see that this is exactly what the european commission has proposed in its review of the capital requirements directive, which is now with the co - legislators. but it doesn ’ t stop there. for banks to be able to manage their transition risks adequately, they need to have information on how their customers are performing relative to a paris - aligned transition path. this is where the european commission ’ s