 So first let me thank again Michael for his collaboration and the organizers and sponsors Christy, Jenny, you guys have done a fabulous job. I want to thank Miriam Achtenberg and Matt and the others in the OFR who really you know helped out to make this a success and thank all of you for coming. And Matt thank you for that for those kind remarks I really appreciate it. Over the last two days we've heard from an outstanding group of speakers and panelists private, public, public sector innovators, distinguished policymakers and regulators, academic experts and leaders from various disciplines. For example or I should say from my perspective this conference has been a huge success because I leave not with a list of answers but with a long list of questions, thought-provoking questions. For example we've noted that the benefits of financial technology for consumers and businesses seem to be considerable. They're a win-win. We explored how they might reshape the financial system, the business models of banks, non-banks, the structure and functioning of financial markets including the plumbing of the financial system. But we've just scratched the surface and there remain many unanswered questions. For example is there a fintech trilema? In the interest of time and the interest of all of us catching our planes I thought I'd highlight just a few more. First do innovations in finance and financial technology create financial system vulnerabilities today? We started to answer that question but we're not we're not finished. How do we assess and monitor threats that they might pose tomorrow? And how do we make the system more resilient so that it can function even in bad states of the world? Second is the current regulatory environment fit for purpose? If not what changes should be considered and might we not have to revisit the age old question in this context of whether to permit the combination of banking and commerce? Third the practitioners and policymakers both here and abroad had the skills including tech savvy needed to identify and address the tough questions and last but perhaps more aptly first what information is available now and where the gaps in data? How should we make them available to answer these and other questions while securing and protecting them and their sources? At the all far we believe it's our job to shine a light in the dark corners of the financial system to see where risks are going to assess the threat that those risks might pose and provide policymakers with the information and analysis they need to mitigate risks. We also believe that threats to financial stability don't respect jurisdictional lines, regulatory silos, national borders or traditional fields of practice or study. Threats migrate from one regulated space to another and from regulated spaces certainly to unregulated ones. We live in a world where no single regulator profession or discipline can effectively predict, diagnose or respond to threats in isolation. Collaboration, information sharing and collective responsibility are best antidotes to instability. We remain isolated at our peril which is just to say that we need each other to continue conversations like this one and to turn those conversations into action so that our commitment to the interdisciplinary approach that we've embraced in the past three years at these conferences is not just a slogan but a recognition that none of us can do it alone. Thanks. Thank you very much, Dick. And let me say again as I did at the outset what a delight and pleasure it's been to work with Dick and his team at the Office of Financial Research on these annual conferences and to watch with admiration as Dick and Matt, Mark, Miriam and the others at OFR have built an agency from scratch that is contributing mightily to our understanding of the risks in the financial system. I also want to thank Christy Bear on my team among the many people who have worked on this event. Christy works unbelievably hard and as you would imagine and not just for this event so while we're doing this event she's also secretly for example you know helping small businesses in Detroit and applying for grants for projects on small business lending and running around doing eight million other things and somehow keeping not just me but all the students and other colleagues who she works with happy which is very very difficult so I'm grateful. The final thing I want to say is that next fall is the 10-year anniversary of the collapse of Lehman Brothers which you could think of as a useful marking point in thinking about the financial crisis and I'm hopeful that these conferences and our other work together are an important part of not forgetting the causes and consequences of the financial crisis and thinking and is for pointing out to us planning for the next one and I hope that we'll be able to continue this wonderful partnership with the Office of Financial Research in the years ahead and Matt and I have already been doing a little brainstorming about that so thank you all for being here thanks to our moderators and speakers and hope to see you again soon thank you.