Federal Deposit Insurance Corp. (FDIC) Chairman Martin Gruenberg said he intends to remain in his post until his successor is confirmed by the Senate, he told a Washington group Tuesday.
Speaking at the Brookings Institution, Gruenberg referred to his desire to remain at the head of the bank deposit insurer as “not a shocker,” and referred to the Federal Deposit Insurance Act as giving him the flexibility to remain in his post.
Gruenberg’s five-year term ends at the end of November. President Donald Trump has not yet named a successor to the post.
In other comments during a question and answer session, the FDIC chairman said:
- Risk-based capital has a role to play, but a capital structure that combines risk-based and a leverage ratio “is the best foundation for a capital system.”
- The banking system is in a position of strength as he nears the conclusion of his 12-year tenure at the FDIC, and can “support the economy.”
- As evidence, he said that banking activity is strong and meeting market demand. “There is no evidence of a supply issue, but there is an issue of demand,” he said. “The industry is positioned to meet the demand.”
- Today’s financial system is “interconnected” internationally — “that is not reversible,” he said.