And many of the steps taken after the last financial crisis have improved the resiliency of the U.S. financial system. While the need for robust regulation and supervision remains as true today as it was after the last financial crisis, regulation and supervision must also allow banks to continue providing credit and other financial products and services.
Collectively, these principles guide my thinking about the future of supervision and regulation. With that framework in mind, I would like to turn to some critical issues that are relevant to large banks.