Michael S. Barr: “I think that repo market reform directly is probably the most efficient way of getting at that.”

Community banks are exempt from this proposal. It only covers the top 37 banks in the country.

I do think the banking system is sound and resilient.

The bank did respond to regulator citations but those responses were insufficient.

I don't agree with that assessment. I think that capital in general is facilitating strong lending to all communities, and having strong capital in the system is critical for doing that.