in fact, in hearing back from february before this committee governor tarullo started the repo market as the second greatest threat to the stability of our financial system after adequate capital requirement. do you share governor tarullo's concern, and what steps can be taken to prevent adverse consequences in the repo market during stress markets? >> i think that the short-term funding issues are quite significant. that's why when you call them short-term funding or shadow banking, you're putting so much attention and get them. the risk that one day, you are open for business and you don't even have the rebound of the money markets funding that you expected, we sign the financial crisis cause an immediate collapse, a collapse with an exiled or on a. i think if you look at the amount of funding that in the repo market and the money market funds, it's considerably down from where it was at the time -- >> less of a risk. what can be done to prevent some of the adverse affects? >> so i think on both of those issues, o on the triparty report and a money market fund, it's important regula

i've been supportive of governor tarullo and others have been supportive of taking some action to diminishthe incentives for heavy reliance on short-term funding. we still see that as one of the risks to the financial system. it wasn't really trapped in the risk-based capital requirements that we put out or in the liquidity coverage ratio that's out for proposal. governor tarullo suggested one approach could be to impose a capital requirement that's related to reliance on full-scale funding to a they might own past comments i've been supportive but i'm afraid at this point, and this remains very much on the table, to take some action to address this. it is certainly remains on the table as an unfinished agenda item, but i don't have a detailed timetable for you. [inaudible] >> i'm not, i'm just not certain. i just don't have the details, timetable for you, i'm sorry. [inaudible] >> madam chair, greg with the economist. this is a follow. how did the committee respond if the commit to temporal move above target in a new term before you would achieve full employment? your colleague and the im