My projection for fiscal 2016 that the core CPI inflation will rise to a little over 1 percent is rather cautious compared to that presented previously.
Clearly, we should not hinder the competitive position of any U.S. banking organization relative to nonbanks and will work to avoid such an outcome. However, bank supervisors also have an obligation to develop the regulations that they feel are appropriate to banks even if similar regulations will not be applied to nonbank competitors.