The global financial crisis, like every other crisis, has provided us new lessons as also opportunities. Having added a P here and an R there to put the broad theme of this seminar in perspective, let me now turn to some specifics. Business risk and regulatory dialectics Being a regulator, I will start with the business community’s concerns over legal and regulatory risks.
The Dodd-Frank Act provides a framework for resolving systemically important organizations. While it adds to what we already have for closing commercial banks, there are important weaknesses with this framework.