The Federal Reserve and the FDIC are working together with counterparts from other countries to identify opportunities for more limited cooperation agreements, coordinated supervisory work on resolution plans, and other devices to make the orderly resolution of a large, internationally active firm more feasible. OTC derivatives regulatory reforms Another key part of the Dodd-Frank Act that involves significant international considerations is OTC derivatives reform.
With regard to tax matters generally, we have gone through a similar cultural change. Since the Public Accounts Committee DIRT investigations and since the development, during the late 1990s, of the money laundering regime - which includes tax evasion - which now applies to banks. Banks are being required to heavily invest in compliance.