It is important that, even as we represent our national interests in these bodies, we also promote the shared interests we have in effective financial supervision. Conclusion Participating in international regulatory groups has helped the Federal Reserve and other U.S. agencies begin to shape an effective global regulatory response to the financial crisis.
We look forward to continuing our collaboration in pursuit of effective, efficient financial regulation. Thank you for inviting me to present the Board's views on this very important subject. I look forward to continuing dialogue with the subcommittee on these issues. I would be pleased to answer any questions you may have. BIS Review 118/2009  7