And we need to ensure that supervisory guidance regarding liquidity risk management is consistent with the way we answer those questions. Whether broader regulatory changes for broker-dealers are necessary is a difficult question that deserves further study. In the interim we are working closely with the Securities and Exchange Commission to provide appropriate prudential oversight of primary dealers and their affiliates.
In the context of our banking environment, calculations based on a span of time such as interest earned, interest due, settlement dates and many others, may result in the generation of misinformation and errors that would be labor intensive, slow and costly to identify and correct after the fact.