about 6. 5 % to about us $ 10. 5 trillion by 2010. all these represent substantial financial sector opportunities for deutsche bank in asia, including trade & infrastructure financing and wealth management. singapore, being at the heart of asia, provides global financial institutions a unique location to harness the growth opportunities from this region. singapore offers a stable and trusted environment for investments and businesses in the region. companies in singapore are supported by a robust network of infrastructure as well as an educated workforce, and coupled with open and consistent government policies. we strive to keep our markets pro - business and to keep operating costs competitive. being cost - competitive is not sufficient by itself. we need to make sure that singapore continues to stay at the confluence of business opportunities. to facilitate business reach into major markets, singapore has signed a series of free trade agreements with many of our trading partners include the us, india, japan, korea, vietnam as well as beginning free trade discussions with china and the gulf countries. i am certain these strong ties that singapore has built can only facilitate deutsche bank's business expansions in this part of the world. conclusion on that note, let me again extend my heartiest congratulations to deutsche bank on its 35th anniversary in singapore. we appreciate your commitment to singapore and hope that singapore will continue to play an important role in your growth in asia and the world. thank you.

from year to year, and to explore even quite unlikely scenarios. if the stress tests do not evolve, they risk becoming a compliance exercise, breeding complacency from both supervisors and banks. we might also, inadvertently, encourage the development of a banking system where, over time, all banks would look much alike rather than the banking system we want and need, one with diverse institutions with different business models. we simply can ’ t let these things happen. the purpose of today ’ s gathering is to help us think about how to ensure the tests continue to foster a dynamic banking system, financial stability, and a healthy and growing economy. we have invited a wide range participants — fellow regulators, bankers, analysts, academics, and community groups — with diverse perspectives. because we do not claim a monopoly on knowledge or wisdom, we have invited many who have disagreed with us in the past. i strongly believe that diverse perspectives and healthy debate will sharpen our thinking and lead us to better answers. 1 / 2 bis central bankers'speeches i ’ m sorry i ’ m not able to be with you today. and i want to particularly thank all of the speakers, discussants, and other participants for helping us grapple with the challenges of ensuring that tomorrow ’ s stress tests remain as effective and vigorous as they are today. thank you. 1 1 the stress tests were announced in february 2009, and the results were released in may 2009. see, respectively, board of governors of the federal reserve system, federal deposit insurance corporation, office of the comptroller of the currency, and office of thrift supervision ( 2009 ), “ agencies to begin forward - looking economic assessments, ” joint press release, february 25 ; and board of governors ( 2009 ), “ federal reserve, occ, and fdic release results of the supervisory capital assessment program, ” press release, may 7. 2 / 2 bis central bankers'speeches