mr. curry, i assume you agree that these prudential rules and other reforms have improved safety and soundness and if you agree with that general proposition, raise your hand. all of you agree these new prudential rules enhance safety and soundness. a follow-up question, do you believe that the benefits of these new prudential rules outweigh potentially the cost to international competitiveness? given that we have higher standards than that internationally? okay, most of you agree with that. when combined with volcker, financial institutions seem to be making a couple of changes and the regulations are producing a couple results. one is that there's a migration of activities out of heavily regulated banks and into much less regulated non-bank financial firms, the so-called shadow banking system and i want you to address that. but also there is much talk about illiquidity in the markets, institutions dropping certain products and services, pulling back from market-making functions critical to in

here comes mr. curry with the ball, he looks it over, and said i'm handling it by myself, straight to the hoop, up and in, two of his 19, warriors, with to win 89-83, improving record to wow 28-1. >> on the hardwood in oklahoma city this afternoon. butler did it as in jimmy butler 35 feet away, on target at the buzzer end first quarter, giving bulls 32-26 lead on hometown thunder, then final 30 seconds of third quarter, butler does it again. this time with steel, finished with slam, butler with team high 23, bulls spoil christmas in okc. 105-96, final, one other final heat beating pet -- pehl pelicans 92 that is it for us, stay tuned for modern masters special, good kids don' t stay little forever. so help them get the opportunity they need. it' s never too early or too late to save for college. account with just $25. and you may get tax benefits in new york state. ll look back and ny' s 529 college savings program. the right time is right now. gorgeous, isn't he? (vo) a new york man spent $3.2 million on

mr. curry noted this potential lack of liquidity that is resulting from regulation could mean financial markets have less capacity to deal with shocks and would more likely seize up in a panic as they did in the 2008 financial crisis. so given that our bank regulators are making the case to fsoc that this is a -- this is good for financial stability and yet we see a liquidity problem developing, from your perspective what do you make of all of this? >> well, i -- look. i talked about this at my last hearing. i think it's a concern of all of us in terms of, you know, reductions, significant reduction in liquidity. obviously there are rules that have very beneficial purposes that may or may not be causing that. we do analyses to see whether volcker, for example, will report quarterly to this committee. the volcker rule, we have not determined that it's having a negative impact on liquidity. when we talk about shadow banking, i think we have to be careful, too. i mean, that covers a broad swath. i

jeff's alma mater, the scheduling gods not kind, mr. curryldn't watch the game, oracle taking on his brother in the,,,,,,,,,,,,,, home game of the year. in 2015... they only suffered e loss on warriors ground in e regular season >>> the warriors play their last home game of the year in 2015, only suffered one loss on warriors ground in the regular sxaez looking for their 33 regular win against the sacramento kings tonight, news flash, curry was held scoreless for the first 52 minutes of the -- 21 minutes of the game, but omri looked like he hit it to make it 53-44, kings in the 2nd quarter, scoring 23 in the first half, curry caught on fire at the end of the half, he scored 17 in the final three minutes of the second quarter to trim an 11 point deficit down to one. early third, kings cousins is ejected, after the ejection, golden state won 15-0 run, thompson's three makes it 76-66 warriors, he led the warriors with 29 totality, later in the quarter, warriors up, curry lob it to andre for the slam, and curry finished with a fresh triple double

jeff's alma mater, the scheduling gods not kind, mr. curryn't watch the game, oracle taking on his brother in the kings and the game of 2016, we'll be right back. ,,,,,,,,,,,,,,,, ok, we're here. here's dad. mom. the twins. aunt alice... you didn't tell me aunt alice was coming. of course. don't forget grandpa. can the test drive be over now? maybe just head back to the dealership? don't you want to meet my family? yep, totally. it's practically yours, but we still need your signature. the volkswagen sign then drive event. zero due at signing, zero down, zero deposit, and zero first months payment on a new jetta and other select models. home game of the year. in 2015... they only suffered e loss on warriors ground in e regular season.. >>> the warriors play their last home game of the year in 2015, only suffered one loss on warriors ground in the regular sxaez looking for their 33 regular win against the sacramento kings tonight, news flash, curry was held scoreless for the first 52 minutes of the -- 21 minutes of the game, but omri looked li

so i was going to ask mr. curry, do you view the potential for regulators to create systemic risk as a problem? and what actions have you taken to make sure that -- and i'll also ask this of chair matz, that the fsoc's enhanced standards of the fed are not increasing systemic risk per the thesis that the yale professor puts forward? >> congressman, the fsoc actually is looking at, and this is referenced in our annual report, looking at some of the consequences of changes within the marketplace, including regulatory changes. there are behaviors that have changed, institutions have either left or entered different types of business, the impact to nonbanks. those are all thingstpo we've identified as emerging or potential emerging risks that require future monitoring and potential action down the road. >> chair matz? >> more specifically, as the designation is being considered, the company has an opportunity to present any evidence to the staff, whether in person or in writing. and so if they think that there might be

up next, the tweets from mrs. curry that sparked a debate across the country. ever. we want to see your holiday photos as well. check out what we have so far. next, see which we chose for the best today. are those... you there... stormtroopers! halt! turn here. go go! follow them! bb-8! beep, beep! this way! where'd they go? they went that way! that way, they went that way! i can't believe that worked! of course it worked! beep, beep, beep! >>> welcome back. kendrick lamar leads the 2016 grammy nominations including best rap song for the song all right. taylor swift and the weeknd also got several nominations. >> who do you like? >> i never thought i'd say this but i do like taylor swift with kendrick lamar. >> what is the world coming to? >> i'm over trying to impress other people. if i like it, i like it. >>> let's talk about somethingest. steph curry's wife sent out some tweets over the weekend that seemed benign. another one sent out. those sparked a lot of debate, some saying women should dress as they please and others applauding her stance. her husband said, s

mr. curry noted this potential lack of liquidity that is resulting from regulation could mean financial markets have less capacity to deal with shocks and would more likely seize up in a panic as they did in the 2008 financial crisis. so given that our bank regulators are making the case to fsoc that this is a -- this is good for financial stability and yet we see a liquidity problem developing, from your perspective what do you make of all of this? >> well, i -- look. i talked about this at my last hearing. i think it's a concern of all of us in terms of, you know, reductions, significant reduction in liquidity. obviously there are rules that have very beneficial purposes that may or may not be causing that. we do analyses to see whether volcker, for example, will report quarterly to this committee. the volcker rule, we have not determined that it's having a negative impact on liquidity. when we talk about shadow banking, i think we have to be careful, too. i mean, that covers a broad swath. i

>> i think it would probably be more appropriate for mr. curry and mr. gruenberg to answer that. i don't regulate banks. but i would think that they take into account all of these considerations. >> but you do sit on fsoc, is that correct? >> time for the gentleman expired. the chair recognizes the gentleman from texas, mr. hinojosa. >> thank you, chairman and ranking member waters for holding this important hearing. i also wish to thank our distinguished panelists for testifying today and for the dedication to ensuring safety and soundness of the financial system on their participation of the financial oversight council. as a senior member of this committee, i applaud the counsel's progress to date, and i look forward to hearing from our panelists on the council's priorities moving forward. two particularly lessons come to mind today. first, it is absolutely essential to have a bird's-eye view of our financial system in order to identify and prevent systemic risks from destabilizing our entire economy. in crafting the dodd-frank act in congress recognized this and created the fi

warriors now nba record 20 an o getting set for the next gym saturday in toronto and mr. curry now. that's special. sit on the bench and the number 20 sounds a little different than 15, 16, kq a little different than 15, 16 17, whatever. let's be proud of that but remember how we got to this pony and bottle it up for the rest of the season. >>reporter: steff not receiving awards everywhere. davidson college will not retire his jersey until he graduates. long time school policy. curry hefty a year early for the 09 draft. he only has a four classes left. trying to figure out how to complete the degree is a challenge because davidson doesn't offer summer classes. steff is keen of busy in the fall wenter and the spring. wait on. that warriors my toronto saturday as we mention. tonight the ravtors host denver. the jumper. had 34. but the raptors down. type sawyer couldn't stop the the player here with 21 point. barton 2 off the bench here. denver snaps an 8 game slide. respecttors got caught looking ahead to the warriors on saturday. giants right fielder pence wanted to propose to h

mr. curry was playing his brother steph and the sacramento kings in the warriors's last home game of 2015. we'll be right back. ,,,,,,,,,,,,,,,,,,,, >>> of the warriors play their last home game of the year in 2015 they only suffered one loss on warriors ground in the regular season and were looking for the 33rd straight regular season win at home against the kings last night. news flash, steph curry was scoreless for the first 21 minutes of the game. 53-44 kings in the 2nd quarter. cash buy scored 23 just in the first half but curry caught on fire at the end of the half. he scored 17 in the final three minutes of the 2nd quarter to trim an 11-point deficit down to one. early third kings cousins is ejected,klay thompson makes it 73-66 warriors. thompson led the warriors with 29. later in the quarter, warriors up by 8 and curry to bogut for the awesome slam. curry finished with his first triple-double of the season as golden gate wins 122-103. >>> well, steph's college coach bob coach playing. b

mr. curry couldn't watch the game. he was at oracle taking on his brother steph and the sacramento kings in the warriors's last home game of 2015. we'll be right back. ,, ,,,,,,,,,,,,,,,,,,,,,, >>> the warriors play their last home game of the year in 2015. they only had one loss on warriors ground in the regular season and were looking for their 33rd straight season win at home against the kings. steph curry was held scoreless for the first 21 minutes of the game. but sacramento's casspi looked like steph, he hits the three to make it 53-44 kings in the second. casspi scored 23 just in the first half. but curry caught on fire at the end of the half. curry scored 17 in the final three minutes of the 2nd quarter to trim an 11-point deficit to one. early third kings demarcus cousins is ejected and after that golden state went on a 15- 0 run. klay thompson he is three makes it 73-66 warriors. thompson led the warriors with 29 points. later in the quarter, warriors up by 8 and curry lobs it to bogut for the slam. curry fin

>> i think it would probably be more appropriate for mr. curry and mr. gruenberg to answer that. i don't regulate banks. but i would think that they take into account all of these considerations. >> but you do sit on fsoc, is that correct? >> time for the gentleman expired. the chair recognizes the gentleman from texas. >> thank you, chairman and ranking member waters for holding this important hearing. i also wish to thank our distinguished panelists for testifying today and for the dedication to ensuring safety and soundness of the foreman system on their participation of the financial oversight council. as a senior member of this committee, i applaud the counsel's progress to date, and i look forward to hearing from our panelists on the counsel's priorities moving forward. two particularly important lessons come to mind today. first, it is absolutely essential to have a bird's-eye view of our financial system in order to identify and prevent systemic risks from destabilizing the entire economy. in crafting the dodd-frank act in congress recognized this and had an entity of our

so, i was going to ask mr. curry, do you view the potential for regulators to create systemic risk as a problem? and what actions have you taken to make sure that -- and i'll ask this of chair matz that the fsoc designations are not increasing systemic risk per the thesis that the yale professor puts forward. >> congressman, with the fsoc actually is looking at -- this is referenced in our annual report, looking at some of the consequences of changes within the marketplace, including regulatory changes. there are behaviors that have changed, institutions have either left or entered different types of business, not the impact to nonbanks. those are all things that we've identified as emerging or potential or emerging risks that require further monitoring and if necessary potential action down the road. >> chair matz, if you could just weigh in there. >> thank you. more specifically, as the designation is being considered, the company has an opportunity to present any evidence to the staff, whether in person or in writ

mr. curry. amid regulations and supervision, the good news we are starting to take banks taking bolder steps to reduce risks and exit out of certain risky activities. on the other hand, there's a concern because some of the activities are just shifting to less regulated shadow banking entities and that banks are getting out of certain communities and in certain countries. so are we denying services to millions of lower income americans? not because the risk is too high but simply because the profit margins are not as high or too low? >> to my knowledge, there a he no evidence of that, congressman. it is something we would assess in the course of our compliance examinations for the community re-investment act. >> the chair recognizes the gentleman from south carolina for five minutes. >> i thank the panel for sticking around. it means a lot to us that y'all don't put hard stops on us, it lets us have some flexibility and do this throughout the day. i also apologize for having to to run in and out

so i was going to ask mr. curry do you view the potential for regulators to create systemic risk as a problem? and what actions have you taken to make sure that -- and i'll also ask this of chair matz, that the fsoc's enhanced standards of the fed are not increasing systemic risk per the thesis that the yale professor puts forward? >> congressman, the fsoc actually is looking at, and this is referenced in our annual report, looking at some of the consequences of changes within the marketplace, including regulatory changes. there are behaviors that have changed, institutions have either left or entered different types of business, the impact to nonbanks. those are all things we've we identified as emerging or potential emerging risks that require future monitoring and potential action down the road. >> chair matz? if you could just weigh in there. >> more specifically, as the designation is being considered, the company has an opportunity to present any evidence to the staff, whether in person or in writing. and so i

likened the elements of a strong economy to those of a good curry, so will he head off the coming curry crisis? mrne: we all enjoy a great british curry, but we want the curry chefs to be trained in britain so we are providing jobs for people here in this country. that is what our immigration controls provide. karl mccartney: my right honorable friend is well aware, from my repeated representations to him and his colleagues, of the need for a southern relief road and eastern bypass for lincoln, which have been delayed by bureaucracy for nearly 100 years. he and his government colleagues are well acquainted with the need to drive growth and local economic well-being by utilizing appropriate infrastructure improvements to fuel the midlands engine. what would he say to my constituents, should he visit the beautiful city of lincoln, other than any new road is eventually better than no road? mr. osborne: i congratulate my honorable friend on securing £50 million of extra funding for lincoln and ensuring that a bypass will go ahead. i have spoken to him. i know he has concerns that the bypass is not big

mrs. they will respond to your emails. >>> we will hear from steph curry on tonight game.reak. icming. of course. don't forget grandpa. can the test drive be over now? maybe just head back to the dealership? don't you want to meet my family? yep, totally. it's practically yours, but we still need your signature. the volkswagen sign then drive event. zero due at signing, zero down, zero deposit, and zero first months payment on a new jetta and other select models. [chris]still smoking up a storm? [tom]yeah.pathetic,isn't it? [chris] ever try to... [tom] quit?of course! my best time was six days. the worst was ...uh...23.4 seconds. [chris] so can i ask you... [chris & tom] why are you still smoking? [tom] [sarcastic] "it's so much fun." [chris]why not call the smokers' helpline? the program's free,and... [tom]and they'll tell me..."you oughta quit." [chris] not so. just tell them you're ready to quit. then,they'll tell you how. [tom] really? you wouldn't have that number on you,would you? >>> good evening,, the warriors at about 740, they will tipoff against the milwaukee bu

mr. speaker, this process has been under way for so long that some staff who started this journey with us have now moved on to other endeavors. former staffers, including james bergeron, alex, heather curry, dan short, angela shapiro and former staff director barry karr. and then there are those who are with us today. i wish i had time to elect nice everybody but i've got a few minutes and -- time to recognize everybody but aye got a few minutes and i'm going to recognize some of them. republican staff members, aaron, laura, katherine, leslie, brian. of course i'd like to recognize the republican staff director julie ann sullivan who leads the team with patience, skill, and determination. amy jones who was a firm and fair negotiator throughout the entire process. and last but certainly not least, our senior education policy advisor brad thomas, sitting here patiently beside me today. according to our most recent estimates brad has spent more than of straight days here at the office working out the details of the final bill. we could not have done it without his knowledge, expertise and education. brad, we are grateful for your service. again, because of the hard work of both republican a