The strength and durability of the pick-up in growth through 2013 and beyond will depend critically on how successful we are in regearing our growth to exports, investment and innovation. We are well prepared. We have a myriad of strengths.
Because no single capital measure can capture all possible sources of loss, U.S. banking regulation has for three decades required both a leverage ratio and a risk-based capital requirement. In responding to the crisis, we have applied a higher leverage ratio and stronger risk-based capital requirements, including a robust stress testing program to larger banks.