The existence of such firms -- and the fact that some of them are headquartered in this country -- have required regulators and supervisors in the United States to work with counterparts abroad to discuss oversight arrangements and develop ways to deal with matters in times of crises. This very issue is one of our current challenges.
In particular, our risk management strategy based on four pillars (permanent equilibrium in the monetary market, managed floating exchange rate regime, maintenance of external liquidity buffers, appropriate financial regulation and supervision) is fully compatible with these aims as well as with the tools available.