My address today will contain three important elements: First, a vision for our payments system – one that meets the evolving needs of consumers and businesses and thereby supports productivity growth and improving living standards. Second, a vision for the oversight of the payments system – one that helps to ensure its safety and soundness, its efficiency and its security.
And third, a coordinated approach for achieving this dual vision – one that calls on the payments industry and regulatory agencies to work together to attain this collective goal.