Central Banking

Fed's Kohn on the evolving financial system

In the speech 'The evolving nature of the financial system: Financial crises and the role of the central bank' given on 18 May Donald Kohn of the Federal Reserve said U.S. bank regulators are focused on encouraging market discipline, sound risk management and strong payment clearing systems as ways to reduce damage from any future crises.

The experiences of the 1987 stock market crash and the 1998 liquidity crisis prompted by Russia's debt default and the collapse of hedge fund Long Term Capital

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