Rather, what has changed is the institutional framework in which these policies can be set in place. In Europe, the establishment of the ESRB will provide the mechanism for identifying imbalances that endanger financial stability and create systemic risks at the level of the European Union.
The Federal Reserve seeks to support MDIs in a number of ways, including our Partnership for Progress, our program for outreach and technical assistance to MDIs. Both the Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation share our goal of preserving and promoting MDIs because you are critical institutions to the communities you serve and the larger U.S. economy.