But taking a step back, let me suggest a few areas that all directors in all financial services firms might reasonably take a strong interest in during the year ahead. There are obviously some sector-specific issues that should be worrying some of you.
As an additional means for managing the fed funds, the Federal Reserve stands ready to lend reserves to depository institutions that request them. Financially sound banks are eligible to borrow from the Fed at what is called the primary credit rate, which to date has been set at 100 basis points (1 percentage point) above the target funds rate.