We are keenly aware of the need for capital requirements to make sense from the standpoint of both safety and soundness and competitiveness; we recognize that a one-size-fits-all approach is probably not feasible in this country, in light of our wide range of institutions.
We remain sensitive to the principle that if we have multiple regulatory capital frameworks, they must work together to improve the safety and soundness of our entire banking system without artificially creating competitive inequalities.