I congratulate you on the progress you have made and wish you further success in the years ahead. I have spent much of my own career in the field of risk management, and certainly the Federal Reserve has a keen interest in the matter.
Taking into account the size, complexity of operations, relevance to the financial sector, need to ensure greater financial inclusion and the need for having an efficient delivery mechanism, the capital adequacy norms applicable to these entities have been maintained at varying levels of stringency. One might say that we are adopting a threetrack approach with regard to capital adequacy rules.