6 / 10  BIS central bankers' speeches  7 / 10  BIS central bankers' speeches  8 / 10  BIS central bankers' speeches  1 The views I express here are my own and not necessarily those of the Federal Reserve Board or the Federal  Open Market Committee.
2 Required capital at the bank subsidiaries of these firms would be reduced by larger amounts—and would only  allow the firm to move that capital to different subsidiaries within the firm—but, more importantly, the overall capital regime prevents this capital from being distributed out of the banking organization as a whole except in this de minimis amount.