Beverly J. Hirtle is the director of research and head of the Research and Statistics Group, which provides analytic support for the Bank’s responsibilities relating to monetary policy, banking supervision, payments systems and financial market issues. She is also on the Bank’s Executive Committee.
Ms. Hirtle joined the Bank 30 years ago as an economist in the Domestic Financial Markets function in the Research Group. Most recently, she was a senior vice president in the Financial Intermediation function of the Research & Statistics Group. In more recent years, her work has focused on bank capital adequacy and supervisory stress testing. Among her other roles, she was deputy chair of the Federal Reserve Model Oversight Group responsible for the design and implementation of the Comprehensive Capital Analysis and Review (CCAR) and Dodd-Frank Act (DFAST) stress tests. Ms. Hirtle also spent nearly four years in a research-oriented unit (Banking Studies) in the Supervision Group.
She has served on the Operating Committee of the Large Institution Supervision Coordinating Committee (LISCC), which coordinates the Federal Reserve’s supervision of large, complex financial institutions and she recently co-authored a paper describing the implementation of supervision of these firms at the Bank. Her academic research is considerable, including work on bank holding company dividend and repurchase activity, stress testing, disclosure and risk management, the impact of derivatives on bank risk and credit supply, and trends in retail banking activity.
Ms. Hirtle holds a B.A. in Economics and American Studies from Amherst College and a Ph.D. in Economics from Massachusetts Institute of Technology.