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U.S. too-big-to-fail subsidy as high as $70 billion, IMF says
WASHINGTON (MarketWatch) -- The too-big-to-fail subsidy that banks implicitly enjoy was worth up to $70 billion in the U.S. and $300 billion in the euro area in 2012, the International Monetary Fund said Monday. The estimate -- on the high side of most calculations -- comes in one of the chapters of the IMF's global financial stability report. "Progress is under way, but the subsidy estimates suggest the issue of too-important-to-fail is still very much alive," said Gaston Gelos, chief of the Global Stability Analysis Division in the IMF's Monetary and Capital Markets Department that produced the report.
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