einars repse : links between the central bank and financial markets after the establishment of the financial and capital market commission in latvia speech by mr einars repse, governor of the bank of latvia, at the conference “ banking and finance in the baltics 2001 ”, held in riga, 19 september 2001. * * * since 1st of july 2001, the financial and capital market commission ( fcmc ) has taken over the regulation and supervision of the latvian banking system from the bank of latvia. it is widely recognized that banking supervision was handed over to the new institution in good shape. the banking sector in latvia is solid, adequately capitalized and well regulated in conformity with the european union ( eu ) standards. this was confirmed by the joint international monetary fund and world bank financial sector stability assessment that took place in the first half of this year. the fcmc is now the primary institution responsible for stability and development of the financial market in latvia. however, this does not mean that the overall stability of the financial system as a whole has become less important for the bank of latvia. both institutions will continue to cooperate, as adequate monitoring of financial stability requires a combination of ‘ ‘ macro ’ ’ and ‘ ‘ micro ’ ’ perspectives. in the future, the bank of latvia will concentrate more on macro - prudential analysis, while the commission - on supervision and regulation at the micro level. pursuant to the law “ on the bank of latvia ”, the central bank has to implement monetary policy in latvia by controlling the amount of money in circulation with the aim to maintain price stability. robust health of the financial sector is essential to ensure an efficient monetary policy transmission mechanism. therefore, stability of the financial and banking system will remain an important issue for the bank of latvia. only a sound and competitive banking sector will be able to : • intermediate savings efficiently, thus contributing to the economic growth ; • provide transaction services and payment systems that increase the efficiency of economic activities ; • ensure mutual confidence among banks, which is a precondition for smooth functioning of money and securities markets, through which monetary policy is transmitted ; • contribute to the accuracy of the data needed for the formulation of monetary policy ; • and, last but not least - support exchange rate stability, as a sound banking system serves to stabilize foreign exchange market and diminish exchange rate volatility. the bank of latvia has the ability and possesses the necessary tools to influence the market environment : • the commitment to maintain a fixed exchange rate has

jerome h powell : opening remarks opening remarks by mr jerome h powell, chair of the board of governors of the federal reserve system, at the gender and the economy conference, a symposium hosted by the division of consumer and community affairs, board of governors of the federal reserve system, washington, d. c., ( via webcast ), 8 november 2021. * * * good morning. i am pleased to welcome everyone to today ’ s conference on gender and the economy. thank you for being here, for participating, and for lending your expertise on this important topic. we have gathered an impressive lineup of speakers and panelists, who will address a range of timely and important issues. to open the conference, i will give a brief tour of the important research on display here, then discuss how the pandemic has affected the economy along gender lines. research the speakers and panelists will be exploring a wide range of topics, from a historical review of gender issues and the economy to how someone ’ s education options — and the financing of those choices — affect that person ’ s early career and financial stability. speakers and panelists will also be looking at the influence of family and caregiving on career advancement and will discuss timely topics of wealth and retirement. the pandemic and gender the pandemic widened deep - rooted inequities in our economy. along racial, gender, and socioeconomic lines, those least able to bear it, unfortunately, were those who were most affected. women make up the majority of frontline workers, who have been under substantial strain — and subject to personal risks — during the pandemic. additionally, women took on the majority of caring responsibilities, for older relatives and children alike. as schools closed and childcare services shuttered during the worst of the pandemic, that added responsibility and stress made working more difficult for some and took many away from their jobs. these burdens are real and have been an additional challenge during an already challenging time. in a reversal of previous recessions, women suffered more from job losses in the covid - 19 recession than men. in april 2020, the unemployment rate for women was 16. 1 percent, compared with 13. 6 percent for men. the gap persisted until september of that year, and while it has since reversed, it does not account for the many women who left the workforce entirely. 1 increased childcare responsibilities during the pandemic also affected many parents ’ working lives. mothers of small children