Fed presidents push for macro-prudential rethink
The presidents of the Federal Reserve banks of Boston and Minneapolis yesterday called for a number of refinements to the way regulators oversee their banking sectors.
Eric Rosengren, president of the Boston Fed, became the latest notable central banker to criticise the complexity of the capital requirements contained within the Basel III framework. "Market discipline requires at very least that investors and the public can clearly understand the financial condition of firms," Rosengren said.
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