Testifying before the House Committee on Financial Service, Federal Reserve Chairman Ben Bernanke called for the consolidated supervision of investment banks and the creation of a tool to liquidate failed financial firms. Bernanke also advocated that the Federal Reserve should have authority over payment...
New York Fed President and FOMC Vice Chairman Tim Geithner said the U.S. regulatory structure needs to be reformed to more clearly define rules and responsibilities. Speaking at the Economic Club of New York, Geithner urged banks and Wall Street to come under a unified form of supervision and called...
In a report issued Wednesday, Federal Reserve Vice Chairman Timothy F. Geithner warned banks and settlement and payment systems to review their risk management controls in an effort to avoid any potential disruptions in financial transactions. The Bank of International Settlements report suggested that...
There is an elevated amount of reluctance from banks to lend, according to Boston Fed President Eric Rosengren, speaking Wednesday at the Boston Fed's Basel II conference on New Challenges for Operational Risk Measurement and Management. "The practices of risk management in general, and operational risk...