a number of measures to increase as mayor terence c. -- to increase transparency will complement the oversight. we will work to make our financial system more resilience to shock. examples include rules that will strengthen key utilities, toughen bank capital and liquidity standards, and require that more derivative the estimates be standardized and traded to exchanges rather than over the counter. in economic engineering is effective only in combination with good economic management. for its part, the federal reserve has revamped its operations to provide more effective -- we are focused on risk to the system as a whole as well as risk to individual institutions. together, better designed a private, public sector framework for managing risk, better managing and supervision do not guarantee a crack -- a crises will not occurred. they should reduce the risk of crises and mitigate the effects. in short, the financial crisis did not discredit the usefulness of economic research and alysis by any means. both older and reset ideas drawn from economics have proven invaluable to policy make