regulatory, concentration and reputational. 8. in the case of nepal stakeholders including the nrb and fiu - nepal, have been proactively working to implement the preventive measures of financial crime, so as to investigate and disseminate the cases of money laundering and terrorist financing ( ml / tf ) to law enforcement agencies ( leas ). fiu - nepal received 45, 93, 5817 ttrs'and 887 str's in fy 2017 / 18 and out of the total strs'that has been received ; almost 312 were disseminated to the leas. i hope that fiu - nepal and leas will continue to coordinate to further investigate the cases for prosecution and convictions. i understand that fiu - nepal has already installed the goaml system for strengthening the receiving, reporting and dissemination mechanism of information and reports from commercial banks and is now reporting under the test environment. i am confident banks will soon move to live environment of goaml in reporting of str and ttr to fiunepal. 9. hence, leadership of government of nepal and joint and coordinate efforts among the regulators, bfis, leas, fiu, civil society and support agencies such as isp, telecommunication companies, vendors, etc. including with the public private partnership can play an important role to control the financial crime and help to maintain the financial stability in country. ladies and gentlemen, 10. at last, but not least, i would convey my best wishes that the conference will be successful and reach a concrete conclusion about the implementation of robust mechanism of aml compliance. in addition to this, i believe that, this program will able to help improve your knowledge on the risks associated with of ml / tf. it will also help to further continue discussions on plan of action to help prepare for the upcoming mutual evaluation scheduled in 2020. 11. with this note, let me close my remarks by congratulating and thank you all for your gracious presence and attention. thank you.

gradually spill over into nearby areas. with both commercial and residential rents, not to mention sales prices, high and rising in manhattan, northern new jersey has an opportunity to capitalize on its widening cost advantage by attracting companies and residents that value an urban location, but find new york city to be too pricey. and if preferences are indeed in the midst of a long - term shift toward urbanization, this bodes particularly well for new jersey ’ s own cities. with a major international airport and seaport, a 20 – 30 minute train ride from most of manhattan – but much cheaper rents – as well as a number of universities and a solid infrastructure, newark has strong potential to develop its prominence as a major local business, economic and cultural hub. concluding thoughts to conclude, i would like to say a few words concerning proposals to reform the federal reserve system. first, i concur with chair yellen that the federal reserve already is very transparent and accountable to congress and to the public. i share her strong belief that the independence of the central bank to make appropriate policy decisions consistent with its legislated mandates is essential to a nation ’ s economic well - being. with regard to the structure of the federal reserve system and the role of the regional banks, including the new york fed, i also agree with chair yellen that the system is working well, and i do not see a need for any substantive changes. i believe that the system has been designed appropriately so that a wide range of regional views are represented. at the same time, i believe that the federal reserve system ’ s monetary policy responsibilities are allocated appropriately by the federal open market committee, with new york playing an important role to ensure that monetary policy is executed effectively even during periods of duress. of course, the federal reserve system and the new york fed are not perfect institutions. that is why we always must strive, in an open and transparent manner, to improve what we do and how we do it, for the benefit of the american people. thank you for your kind attention. i would now be happy to take some questions. bis central bankers ’ speeches