. >> mr. hosa and then i will come to you. >> thank you. most family auto degree the regulation of non-bank segments are the financial industries such as the derivative was so very large contributor to the recent financial crisis. one of the cornerstones of the wall street reform act was to ensure that going forward the regulators can reach any financial company whose failure or activities could threaten our whole system. my question to mr. auer is do you agree that the wall street reforms act mechanism for designating non-bank financial companies for supervision as implemented by the fsoc's recent final rule will help prevent future crisises by ensuring there is no place to hide from appropriate regulation? >> thank you, congressman. yes, we view the authority to designate non-bank financial companies that could pose a threat to the financial stability of the united states as a key part of the dodd-frank reforms and a central element to ensure that those types of firms that encounter distress and were at the heart of the last financial cri