Yellen sees ‘room for improvement’ on risk management
Fed chair says supervisors will be ‘watching closely’
Janet Yellen believes banks have made efforts to strengthen their risk management, internal controls and governance, but yesterday warned there is still "room for improvement".
The Fed chair told the Citizens Budget Commission in New York that supervisors "will be watching closely" and "take swift and meaningful action to ensure that firms focus on their risk management practices" where necessary.
More widely, Yellen said, the amount and quality of capital and the strength of liquidity positions
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