Bank Supervision I would now like to turn to our industry oversight activities. The Federal Reserve met its goal, set in May 1997, of conducting a Year 2000 supervisory review of all banks subject to our supervisory authority by June 1998. This public commitment and visible effort did much to stimulate industry action on the Year 2000 issue.
Nonetheless, we must continue to support exports,  BIS Review 172/2010  1  and we will therefore continue to intervene in the foreign currency market, and like every other country, we must be prepared for every possible economic scenario. With regard to financial stability, we are currently mainly concerned over developments in the housing market.