Federal Reserve Governor Jerome H. Powell gave a speech at the Institute of International Bankers’ Annual Washington Conference assessing U.S. and global regulatory efforts to end “too big to fail.” Governor Powell stated that such efforts must involve waging a “two-front war”: First, there must be enhanced regulation to make large financial institution failures much less likely and, second, there must be a credible mechanism to manage the failure of large firms without causing or amplifying a systemic crisis. Governor Powell went on to survey existing efforts on both of these fronts, including the Basel III reforms and the “living wills” process established by the Dodd-Frank Act. He states that such efforts are \u201cgenerally on the right track,\u201d and that, in his view, the framework of current reforms is promising and “should be given time to work.”<\/p>\n
View speech in full here<\/a> (links externally to Federal Reserve website).<\/p>\n","protected":false},"excerpt":{"rendered":" Federal Reserve Governor Jerome H. Powell gave a speech at the Institute of International Bankers’ Annual Washington Conference assessing U.S. and global regulatory efforts to end “too big to fail.” Governor Powell stated that such efforts must involve waging a … Continue reading