Of course, any subsequent bad news could lead me to favor dialing them back up again. As Chairman Bernanke said in his press conference following the March FOMC meeting “when we see that the…situation has changed in a meaningful way, then we may well adjust the pace of purchases in order to keep the level of accommodation consistent with the outlook.” Conclusion Let me reiterate how pleased I am to be here on Staten Island and to have the opportunity to speak to the members of the Chamber. Parts of Staten Island were among the most devastated areas in the region and we at the Federal Reserve Bank are committed to doing all that we can to help people and businesses recover. Many obstacles remain to be overcome but I am confident that Staten Island will meet the challenges that lay ahead. BIS central bankers’ speeches  5
François Villeroy de Galhau: Presentation of the 2016 Annual Report of the ACPR Speech by Mr François Villeroy de Galhau, Governor of the Bank of France and Chairman of the Autorité de contrôle prudentiel et de resolution (ACPR), at the press conference, Paris, 29 May 2017. * * * I am pleased to welcome you today for the presentation of the 7th activity report of the Autorité de contrôle prudentiel et de résolution (ACPR), with Bernard Delas, Vice-President of the ACPR, Rémi Bouchez, President of the Sanctions Committee, and Edouard Fernandez-Bollo, Secretary General of the ACPR. As you know, the ACPR and its 1,046 staff members have a broad field of action. The ACPR guarantees the stability of our financial system, through the supervision of banks and insurance companies, but it also guarantees the protection of French customers and savers. First of all, I would like to mention our essential involvement both at the European and the international level. I will then present the results of the main French banking and insurance groups, before addressing four major challenges that strongly shape the ACPR’s action: low interest rates, digital finance, customer protection, the fight against money laundering and the financing of terrorism. * * *  I. The ACPR’s action at the European and international level At the European level, the ACPR has taken an active part in furthering the deployment of the Banking Union.