A reprint of an address given by the Federal Reserve Bank of Cleveland President, outlining a four-point program to refocus bank regulations to a market-based system that would result in improved bank safety, soundness, and stability, with less dependence on the federal safety net.

A prediction by Cleveland Federal Reserve Bank President Jerry Jordan that in the coming years, bank regulatory agencies will make greater use of market forces to discipline individual banks' behavior and will pay more attention to the functioning of the financial system as a whole.