While the views of national supervisory authorities have in many respects converged on such matters as the sources and effects of incentive problems and some methods for better aligning the risk-taking incentives of employees at major financial institutions with the interests of shareholders and the financial system, different nations have taken different approaches in implementing the FSB principles.
For these brief remarks, I was asked to share my thoughts on the Community Reinvestment Act (CRA), a topic of great interest to all of you and to me as well.