We have to be careful, however, that consolidated umbrella supervision does not inadvertently so hamper the decisionmaking process of banking organizations as to render them ineffectual. The Federal Reserve Board is accordingly in the process of reviewing its supervisory structure and other procedures in order to reflect the aforementioned market-directed shift from conventional balance sheet auditing to evaluation of the internal risk management process.
We need private sector investment in growthenhancing initiatives and smart incentives to go along with that. Investment in green technology is just one example of how the private sector can pitch in to support longer term growth.