Risk management has always been a major challenge for the financial services industry. Today, however, the increasing number of failures of distressed depository institutions seems to indicate that managing risk has become more difficult. At the 25th annual Conference on Bank Srructurc and Competition, sponsored by the Federal Reserve Bank of Chicago, several industry lenders discussed their recommendations for controlling risk in today's environment. Thcsc participants shared several points of emphasis and presented some personal concerns about regulation, supervisory intervention, and deposit insurance.