The HMDA data further indicate that large banks accounted for about onehalf of all originations in 2004 and about the same share in 2011.11 Therefore, as overall originations have declined, originations by small banks have not fallen as much as those of large banks or non-banks.
For these reasons, the Federal Reserve and the Basle Committee on Banking Supervision have strongly supported initiatives to improve the quality of national and international accounting standards and disclosure practices. Finally, bank supervision and regulation must be upgraded. Banks are an important mechanism for transmitting funds both domestically and internationally.