Top Fed Official Wants Rules To Extend To Shadow Banking

Law360, New York (November 22, 2013, 6:14 PM EST) -- The Federal Reserve official leading the central bank's regulatory reform efforts renewed on Friday his call for extending regulators' reach into the so-called shadow banking system, and provided some details on potential proposals for regulating securities financing transactions that take place outside of regulated banks.

In a speech in Washington, Federal Reserve System Gov. Daniel K. Tarullo said that while regulators need to continue to beef up rules for the wholesale funding market that many banks rely upon, rules must extend beyond those already tightly regulated...
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