WASHINGTON Thu Mar 18, 2010 10:01am EDT Related News REFILE-UPDATE 7-Bernanke defends Fed small bank supervision roleWed, Mar 17 2010Fed saves some regulatory authority in Dodd planMon, Mar 15 2010President would tap NY Fed chief under Dodd billMon, Mar 15 2010
WASHINGTON (Reuters) - Presidents of regional Federal Reserve banks on Thursday defended their role in supervising small banks, and said ending it would cut a link between the central bank and the national heartland.
"It is a travesty," Kansas City Federal Reserve Bank President Thomas Hoenig told the American Bankers Association. "It is absolutely disenfranchising our relationship with a very important, hugely important sector outside of Wall Street across the United States."
"It makes the central bank the central bank of Wall Street and not of the United States," he said.
Hoenig appeared on a panel with Cleveland Fed President Sandra Pianalto and Richmond Fed President Jeffrey Lacker.
(Editing by James Dalgleish)
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