NY Fed paper says monitoring is essential to fix Dodd-Frank’s ‘significant limitations’
A staff report, published by the Federal Reserve Bank of New York, has warned that the Dodd-Frank Act could worsen the systemic crises it is meant to prevent, unless a "broad, flexible and forward-looking" monitoring system is implemented.
Tobias Adrian, Daniel Covitz and Nellie Liang, the authors of the report entitled Financial Stability Monitoring, highlight a number of flaws in Dodd-Frank, including the risk that firms are pushed into the non-regulated shadow-banking sector, a failure to
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