These examinations will focus on compliance and supervisory policies.
The agency has implemented major changes since then, including training and new supervisory policies to monitor road stops.
He also countered the senators' points by saying the bank commissioned a 2009 examination of its own supervisory policies and has helped jail executives at BNP Paribas and Credit Suisse.
If the rule goes into effect, the chief executive and chief compliance officer of a brokerage house would have to certify each year that the firm had adequate compliance and supervisory policies in place.
In a recent letter to the Financial Stability Board, an international organization charged with developing strong regulatory and supervisory policies for financial institutions, the Investment Company Institute said: "We do not believe banklike regulation is appropriate, necessary or workable for funds registered under the Investment Company Act of 1940".
The DES formalism - in a Petri net representation - is used for the synthesis and the assessment of the supervisory policies.
This description suggests that regulatory and supervisory policies, rather than monetary policies, would have been more effective means of addressing the run-up in house prices.
For our part, the Federal Reserve has been working hard to identify problems and to improve and strengthen our supervisory policies and practices, and we have advocated substantial legislative and regulatory reforms to address problems exposed by the crisis.
Mr. Draghi may hope to avoid having future banking crises damage the E.C.B.'s reputation by having a so-called Chinese wall between the central bank's supervisory and monetary policy arms.
Calling central bank independence into question, even only implicitly, can confuse markets as well as the public about who is in charge when it comes to monetary policy and supervisory decisions.
