*  *  *  Chairman Johnson, Ranking Member Crapo, and other members of the committee, thank you for the opportunity to testify on implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act).
In today’s testimony, I will provide an update on the Federal Reserve’s recent activities pertinent to the Dodd-Frank Act and describe our regulatory and supervisory priorities for 2013. The Federal Reserve, in many cases jointly with other regulatory agencies, has made steady and considerable progress in implementing the Congressional mandates in the Dodd-Frank Act, though obviously some work remains.