North Carolina Commissioner of Banks Ray Grace has been appointed to the position of state banking representative on the Financial Stability Oversight Council (FSOC), state banking supervisors announced on Thursday.
Grace will serve a two-year term in his new position, effective immediately, taking up the role vacated by John P. Ducrest, Commissioner of the Louisiana Office of Financial Institutions.
“Commissioner Ray Grace has the experience, expertise and passion that will make him a valuable contributor to the vital work of the FSOC,” CSBS President and CEO John W. Ryan said. “He has more than 40 years in state financial regulation and understands the operations of the nation’s financial system.”
Grace brings experience from his previous role as the commissioner of the North Carolina Office of the Commissioner of Banks, a role he has filled since 2013, when he was appointed commissioner by Gov. Pat McCrory. He has worked with the North Carolina Office for more than four decades, beginning in 1974 as an examiner trainee.
“I am honored to be appointed to serve as a member of the FSOC and I look forward to working alongside the members of the Council on important matters of the U.S. financial system,” North Carolina Commissioner of Banks Ray Grace said.