Reuters, Washington, Wed May 11, 2011
(Reuters) - Larger financial firms should face more onerous regulatory requirements to make sure they can withstand turbulence in economy or credit markets, Federal Reserve Chairman Ben Bernanke will say on Thursday.
In copy of his Congressional testimony obtained by Reuters on Wednesday, Bernanke said the U.S. central bank was aiming to keep international standards as consistent as possible to ensure that no big firms fall through the cracks and guarantee a level playing field.
"Federal Reserve is developing more-stringent prudential standards for large banking organizations and nonbank financial firms" designated by a council of top regulators, Bernanke said in prepared remarks that did not directly touch upon the economy or monetary policy.
(Reporting by Dave Clark; Writing by Pedro Nicolaci da Costa; Editing by Diane Craft)
Related Articles:
Goldman lobbying hard to weaken Volcker rule
 |
CEO of Goldman Sachs Lloyd C. Blankfein listens to U.S. President Barack Obama speak at the annual meeting of the Business Council at the Park Hyatt Hotel in Washington, May 4, 2010. (Credit: Reuters/Larry Downing) |
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.