The chief executives of the largest US banks plan to tell Congress this week that the financial system is less risky and more tightly supervised than it was a decade ago thanks to a series of regulatory reforms implemented in the wake of the 2008 financial crisis.

In testimony prepared for the House Financial Services Committee, bank chiefs including JPMorgan’s James Dimon, Citigroup’s Michael Corbat and Goldman Sachs's David Solomon plan to paint a rosy overall picture of an industry House Democrats have targeted for closer scrutiny.