However, this flexibility is likely to diminish in 2017 if the backlog continues to decline.
Still, there was further erosion in the backlog besides the J.P. Morgan reversal, analysts noted.
Some in the backlog have been waiting up to 16 years for a decision.
"You have got poorly priced products in the backlog that, when you begin delivering, it pressures the margins".
Mr. Banks welcomed the mayor's plan but also noted that the housing authority has made similar promises before without making a dent in the backlog.
Throw in the backlog for public offerings abroad, follow-on deals and convertible bonds and there is an additional $330 billion of potential work.
"When I see the number of orders in the backlog start to breach 100, that's my cue to start hiring people," he said.
The administration intended the report to show the progress made in the backlog since the 2000 presidential campaign, when Mr. Bush accused the Clinton administration of leaving the parks in disrepair.
The Social Security Administration is adopting automated tools and more efficient administrative practices, but virtually everyone agrees that no real dent will be made in the backlog until the agency can hire more judges and support staff.
The MPs' report also criticised the increased speed at which some of the cases in the backlog seem to have been resolved, with officials clearing 57,500 cases between July and September last year, up from just 15,500 cases between October 2009 and January 2010.
