On March 2, FDIC Vice Chairman Thomas Hoenig addressed the Institute of International Banking Annual Conference in Washington, D.C. In his prepared remarks, Vice Chairman Hoenig, who formerly served as President of the Federal Reserve Bank of Kansas City, highlighted four supervisory principles that he believes are necessary to ensure effective supervision. These principles include (i) requiring full-scope examinations for all financial institutions, even large financial institutions, (ii) promoting greater transparency regarding the financial condition of large financial institutions, (iii) fully implementing the Volcker Rule, and (iv) increasing capital requirements to levels that the market purportedly would demand in the absence of a public safety net.