To that point, we are finding, with increased frequency, that banks are designing personnel compensation systems to provide managers with greater incentives to control risk. Implementing a risk-focused supervisory approach has not been an easy task.
It has required significant revisions to our broad and specialized training programs, including expansion of capital markets, risk assessment information technology, and global trading activities as well as courses devoted exclusively to internal controls. These education programs will, of course, need to be continually updated as industry activities and conditions evolve.