Challenges also remain outside the financial system, with for instance geopolitical risks still elevated, trade disputes or cyber-risks. As central banks, we have to be prepared for all contingencies.
Daniel K Tarullo: The Volcker Rule Testimony by Mr Daniel K Tarullo, Member of the Board of Governors of the Federal Reserve System, before the Subcommittee on Capital Markets and Government Sponsored Enterprises and the Subcommittee on Financial Institutions and Consumer Credit, Committee on Financial Services, US House of Representatives, Washington DC, 18 January 2012.