I think it is important to note, and too often overlooked, that the vast majority of community banks managed their risks well in the years leading up to and during the financial crisis and were not the source of the excessive risk taking that caused the crisis.
For this reason among others, the Federal Reserve has been engaged in an active effort to tailor regulations, including those issued in the wake of the financial crisis, to appropriately reflect the potential risk that an institution might pose to financial stability. I am pleased to see some evidence we are making progress.