
	Friday May 16, 2008

24,327 Active Members Register

Welcome, Guest Sign In

Home

Latest Headlines

Popular Stories

Bookmark Us

Reader Comments

SUBSCRIBE

SEARCH OUR SITE


30 Yr Fix	6.01%	-0.04%
15 Yr Fix	5.60%	0.00%
1 Yr ARM	5.18%	-0.11%
5/1 ARM	5.57%	-0.10%
30 Yr Tres	4.58%	-0.06%
Fed Prime	5.00%	-0.25%
Mortgage Rates \| Blog

MND Features

-	Wiki
-	Video News
-	Mortgage License Information
-	Real Estate License Information
-	Mortgage Content Syndication
-	Mortgage Fraud
-	Housing Bubble

News Archives

Submit A News Tip
or Story Idea

Free Subscription To News Alerts
Stay up to date on breaking news with our free News Alert Service.

Housing Slump May Affect More Banks, Says Rosengren

1256 Views - Printer Friendly - Email This Story To A Friend

ADD NEWS TO YOUR WEBSITE

Speaking at a credit conference in Charlotte, North Carolina on Friday, Boston Fed President Eric Rosengren addressed the current housing price slump in the U.S., saying that it may continue affecting even more banks.

In a panel discussion with Richmond Fed President Jeffrey Lacker, Rosengren pointed to a lack of an additional buffer to banks' capital and at cutting dividends as a mean to deal with the crisis. Turning his attention to liquidity and the role of central banks, he said that times have called for a period of reevaluation.

"For a central bank to play an effective role during financial turmoil, it needs to understand the sources of liquidity problems, the interrelationships between market participants, likely losses, and market participants' potential reactions to these losses," he said.

Rosengren went on to say that the Federal Reserve needs to take on a more hands-on approach to supervising financial institutions.

"In sum... we can take appropriate actions to reduce the likelihood that extended periods of illiquidity will occur in the future," he said.

Rosengren offered no comment on current monetary policy and economic outlook in the U.S.

By Ryan Szporer and edited by Nancy Girgis
©CEP News Ltd. 2008

Story Views: 1256 | Permalink

Story Tools

Email This Story To A Friend

Subscribe To News Alerts

Related Tags

Select a Tag for more information related to that Tag. (View All Tags)

Comments (0)

No Comments At This Time

Post A Comment

Please fill out the form below to submit a comment.

Name:
(Required - Type Anonymous or Use First Name Only if Private)

Email Address:
(Not Required So No Fake Emails Please.)

URL or Weblog:
(Leave Blank If You Don't Have One - Use http://)

Comments:
(Please keep comments on topic. No HTML Allowed. No Advertisng.)
Please Note: Due to Comment Spam, all comments are reviewed by hand. Most comments will appear shortly after submission but it may take up to 12 hours to appear. If you would like to come back, click here to Bookmark the page.
PLEASE DO NOT USE ALL CAPS

Character Count = (5000 Character Limit)

If you would like to leave a longer comment, please submit your comments in 5000 character increments and we will merge your comments.

Notify me via email when my comment is approved.

Note: Please don't bother spamming. All submissions are reviewed by our our editorial staff. Comment spam and irrelevant links will not be approved.

NEW VIDEO
(4 New Today)

NEW! A New Civil War in Banking

NEW! Atlanta Fed President on Banking

Reader Comments (More)

What is accomplished here? Does the Fed's think those with poorer credit management should be given the same options as an excelle...
Read

Most people applying for Jumbo loans have allready demonstrated their credit abilities. The must put more money into the kitty and...
Read

Another example of not looking out for our seniors. Hud's new rule making borrowers pay for Reverse mortgage counseling even if th...
Read

Home - Contact - Sitemap - Disclaimer - Privacy Statement - Advertising

All Content Copyright © 2003 - 2008 Brown House Media, Inc. All Rights Reserved.
Reproduction in whole or in part in any form without the express written permission of MortgageNewsDaily.com is prohibited.