Ultimately, the new standard has produced many concerns that CECL will have the opposite effect than intended, and rather than produce a safer financial outlook in a downturn, CECL could be procyclical and, indeed, cause problems for us during a downturn by tightening credit too much.
Expressing concerns that CECL might worsen financial conditions during downturns.
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You also said that you are in favor of a world where we have coexisting alongside of each other, CBDCs and stablecoins.
Quality of reserves, liquidity, transparency, redemption rights, these are the sorts of things we should be talking about when we are talking about well-regulated stablecoins.
So there was a recently released Grid Strategies report that says, for every $1 invested in transmission, customers see $3 in benefits.
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