I will then focus on several Federal Reserve initiatives that are underway to support community banks during the pandemic and into the future. The first principle is fundamental to regulation but sometimes bears repeating—regulation should always strike the right balance.
Since then, we have continued to see major changes in technologies and the financial services and products they support. In looking over the materials for that conference, however, I'm struck by how the key themes have remained constant over, not only the last five years, but arguably for centuries.