I would also like to note that the Federal Reserve has an excellent working relationship with the Financial Services Authority and the Bank of England. We have worked together effectively on bankspecific issues and broader questions of regulatory policy and financial stability.
While there is a wide range of issues with which supervisors must grapple, including those I have discussed today, I believe that supervisory cooperation can indeed create a safe and sound global marketplace while allowing financial institutions to remain prosperous. 4  BIS Review 95/2006