Treasury collaboration with congress is vital to the admission and we are working to make it that way. I look forward to answering your questions. Thank you, appreciate your comments at the Regulatory Reform and protection act and appreciate your encouragement that would move quickly. I appreciate your comments on Housing Finance reform, my highest priority in many. In the annual report last year, one recommendation was the regulators and Market Participants continue to take steps to encourage private capital to play a larger role in the Housing Finance system. I agree with that goal. Can you elaborate why it is important to play a larger role in what steps you believe we can take to further encourage . I believe in the importance of the 30 year mortgage. It is important to the economy and as we look at housing reform we need to look at fannie mae and freddie mac and the risks. Im openminded to Many Solutions and had some very productive conversations with several members of the commit
Committee will come to order. The panel will take their seats. Chair now recognizes the gentleman from kentucky, mr. Barr, for five minutes. Thank you, mr. Chairman. Mr. Woodall, since youve been the topic of much conversation as a fi beta kappa from kentucky, fellow kentuckian im going to leave you alone for the most part today. Let me start with Bank Regulators, prudential regulators and just note at a macro prudential level fsoc and banking regulators have participated in International Agreements with the Financial Stability board, basel and other forums and the main difference between u. S. Requirements and those promulgated internationally is that it seems that our domestic standards are more stringent than our foreign counterparts. A few examples, capital surcharge on Global Financial firms nearly doubled the International Standard. Supplemental leverage ratio that is double adopted internationally. A liquidity coverage ratio more restrictive than the International Standard and a