I will suggest that the U.S. financial services industry will likely remain a highly diverse and competitive industry with room for many successful business models. I will then outline what I believe are the key supervisory and regulatory issues facing bank supervisors in two critical areas: bank safety and soundness and antitrust enforcement.
The annual growth rate over the period 1997 to 2006 was 7.2 per cent, some 5 percentage points per annum above the euro area average.