Federal Reserve Governor Daniel Tarullo delivered a speech on "Evaluating Progress in Regulatory Reforms to Promote Financial Stability" on May 3, 2013. Tarullo examined the issues and difficulties surrounding implementation of reforms of bank capitalization and leverage enacted since 2008 and assessed the lingering vulnerabilities of the current regulatory system to financial shocks.
Governor Tarullo took office as a member of the Board of Governors of the Federal Reserve System on January 28, 2009. He had served previously in the Clinton administration as assistant secretary of state for economic and business affairs and assistant to the President for international economic policy, including as the President's personal representative to the G-7/G-8. Immediately prior to joining the Federal Reserve, he was professor of law at Georgetown University Law Center. In 2008, the Institute published his book Banking on Basel: The Future of International Financial Regulation.