Minneapolis Fed's Stern on 'Too big to fail'

In the speech 'Too big to fail' given on 2 June, Gary Stern of the Federal Reserve Bank of Minneapolis said too big to fail (TBTF) is an important public policy issue and one which has received insufficient attention to date.

"Let me launch into some substance and specifics by describing what I mean by the term "TBTF," so that we are starting in the same place. TBTF applies when uninsured creditors of large/systemically important and complex banks believe/expect that the government will protect

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