Therefore, the Federal Reserve is embarking on an initiative to investigate the implications of these changes for the Federal Reserve’s Supervision function.6  4/7  BIS central bankers' speeches  The goal of this initiative is to ensure our supervisory approaches accommodate a much broader range of activities while ensuring we don’t create an unlevel playing field with unfair advantages, or unfair disadvantages, for some types of firms versus others.
We already have the report on a framework for financial stability by the Group of Thirty, the High Level Group on Financial Supervision in EU, and the G-20 has set up several working groups.