To further this effort, we continue to develop programs for establishing the practical processes of meeting joint responsibilities, especially with the Office of the Comptroller of the Currency and the Securities and Exchange Commission. Indeed, it is widely understood that all our activities need to evolve with changing market and technological realities.
With the Gramm-Leach-Bliley structure as background, let me turn to what I believe should, as we move forward, be our major supervisory and regulatory priorities in the areas of safety and soundness and competition policy. In my judgment, both the safety and soundness of individual banks and the stability of the overall banking system begin with strong equity capital positions at individual depository institutions.