We enforce strict ethics rules and promote strong values among our employees, among them a commitment to public service. It is important that anyone serving the Fed feel safe speaking up when they have concerns about bias toward industry, and that those concerns be addressed.
The broadening of expertise and participation in supervision conducted by the LISCC, as overseen by the Board, represents yet another check to the risk of regulatory capture in the oversight of large firms. The results of improved supervision I believe the changes I have described have significantly improved the strength and stability of large financial institutions and the financial system.