Hard-to-value assets halt investment - Fed's Kohn
The large quantity of hard-to-value assets remaining on financial institutions' balance sheets is acting as a barrier to private investment, said Donald Kohn, the vice-chairman of the Federal Reserve.
Echoing comments made by Ben Bernanke, the Fed chairman, earlier this week, Kohn said that these assets significantly increased uncertainty about the underlying value of institutions, thereby restraining new lending.
He said that the US Treasury should consider taking steps to reduce the
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