Thank you, Michael [Strine], for that kind introduction.[1] I am delighted to join all of you at the Third Annual Conference on the Evolving Structure of the U.S. Treasury Market. I also want to thank the Board of Governors of the Federal Reserve System, the Department of the Treasury, the Federal Reserve Bank of New York, and the Commodity Futures Trading Commission (CFTC) for your efforts in organizing this excellent event and co-sponsoring it with the SEC.
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