So I am planning to stay on for a while. But as strongly as I believe in the importance of a full Board, I am hesitant to make an open-ended commitment to stay for as long as it takes to fill the current vacancies or until someone is nominated and confirmed for my seat.
Given the importance of these services, the official sector has had a long involvement as the market structure has evolved. After the terrorist attacks of September 11, 2001, the Federal Reserve convened the private-sector Working Group on Government Securities Clearance and Settlement to recommend steps to mitigate risks to the financial system from a disruption to these services.