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Financial institutions are an integral part of the economy, and as such their activities must be closely monitored and regulated. To ensure that the banking system operates in the best interests of customers and the broader economy, the government and other regulatory bodies must be involved in overseeing the activities of financial institutions. This helps to ensure that these organizations are acting responsibly, following the rules and regulations set forth by the government, and not taking unnecessary risks with customer funds. Regulation also helps to protect customers by setting standards for how these institutions should operate, such as providing clear and transparent information to customers, as well as by setting limits on the amount of risk that can be taken with customer funds. In addition, regulation helps to promote competition among financial institutions, which helps to keep customer costs low. Ultimately, regulation is important for financial institutions because it helps to promote a safe and healthy economy.