Yesterday, Federal Reserve Chairman Ben Bernanke provided documentation to the Senate Banking Committee outlining the "importance" of the Federal Reserve's continued role in bank supervision and regulation. Chairman Bernanke briefly outlined the Federal Reserve's "unmatched" expertise in the areas of macroeconomic forecasting, financial markets, and payments systems, as well as noting that the Federal Reserve's role as a bank and bank holding company supervisor and central bank can assist with "address[ing] actual and potential financial crises," "enhance safety and soundness," and help determine the "appropriate stance of monetary policy." By way of example, Chairman Bernanke discussed the Federal Reserve's historical role in financial crisis management, as well as its critical role in leading the Supervisory Capital Assessment Program to "restore confidence in the banking system," and the development during the financial crisis of a variety of credit liquidity programs such as the Primary Dealer Credit Facility and the Term Asset-Backed Securities Loan Facility. Chairman Bernanke acknowledged that the Federal Reserve "cannot and should not be responsible for oversight of the financial system as a whole," but, by virtue of its experience and expertise, it is "well suited to contribute significantly to an overall scheme of systemic regulation, particularly in the areas of consolidated supervision and macro-prudential supervision."