Fed’s Kashkari: more needs to be done to end too-big-to-fail
Minneapolis Fed president says breaking up the largest banks should be ‘seriously’ considered
Legislation has not solved the too-big-to-fail problem in the US, according to the Federal Reserve Bank of Minneapolis president, who called for "bold, transformational solutions" today (February 16).
Policy-makers should consider the merits of breaking up large banks, forcing them to hold "so much capital they virtually can't fail", and taxing leverage throughout the financial system, Neel Kashkari said at the Brookings Institution.
As part of this process, he said, the Minneapolis Fed will
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