All told, we expect the Board will issue approximately 60 sets of rules and formal guidelines as part of its implementation efforts. We are working diligently to complete the remaining rules. The challenge arises from the sheer number of studies, rules, and other implementation tasks the Act requires the Federal Reserve to produce in a relatively short period of time.
Moreover, much of the work involves the more time-consuming process of joint rulemakings or coordination with other agencies, all of which are facing similar demands. For all the variation and complexity in our Dodd-Frank implementation responsibilities, we have several unifying goals. First and foremost, we want to get it right.