WASHINGTON, D.C. — Financial Services Forum President and COO Rob Nichols released the following statement on the President's reappointment of Federal Reserve Chairman Ben Bernanke.

The Financial Services Forum welcomes President Obama's decision to appoint Ben Bernanke to a second term as Federal Reserve Chairman. Chairman Bernanke's bold action and innovative responses to the financial crisis have helped lead our nation through one of the most challenging times in our history. His leadership has helped stabilize the financial sector and is restoring the flow of capital and credit to business owners and families across America.

Chairman Bernanke is held in high regard by his regulatory peers in the United States and abroad. His understanding of the crisis and experience combating it will be critical as regulatory authorities work together to further normalize markets — and particularly as the Federal Reserve begins to unwind the unprecedented interventions the crisis has required.

The Forum looks forward to working with Chairman Bernanke, the Obama Administration, and members of Congress to continue on a path of recovery and to identify sensible policy solutions to modernize and reform our financial supervisory framework.