Let me now discuss the most important of the firewalls to which the Board has proposed changes. The comment period closed on this proposal last week, and the comments were overwhelmingly favorable. I will not discuss all 28 firewalls but have attached a summary list and their proposed disposition.
Restrictions on Funding The Board proposed to eliminate a series of firewalls that constitute a blanket prohibition on a bank’s funding its section 20 affiliate, and to rely instead on the protections of sections 23A and 23B of the Federal Reserve Act.