And a central part of the Fed’s agenda is working with other regulators and the industry to devise an appropriate approach to regulating capital—one that recognizes the unique role of insurance in the financial system and the distinctions between insurance companies and banks. Our deliberate process has helped build confidence among regulators and the industry and is bringing us to consensus.
The public, which depends on a strong and stable insurance sector, has been well-served by that process and will benefit from the outcome. Thank you for the opportunity to speak with you. I look forward to engaging with you all in the future.