NY Fed's Geithner on financial stability

In the speech 'Implications of growth in credit derivatives for financial stability' given on 16 May Timothy Geithner of the Federal Reserve Bank of New York said banks and other financial players must be cautious in their use of credit derivatives.

"The prospect for future stability will depend in part on the degree of care and conservatism market participants bring today to judgments about opportunity and risk management," Geithner said.

Use of derivatives has grown in friendly market conditions

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