Jerome Powell actually said...

No one should assume that the fed can really protect the economy and the financial system, or our reputation globally from the damage that a...

Custody assets are off-balance sheet. They always have been.

In the rules before us, we are applying the discretion granted to us by the Economic Growth Regulatory Relief and Consumer Protection Act.

We believe strongly, and always have, in tailoring to address the different size and risk characteristics of financial institutions.