Rules For Ending 'Too Big To Fail' Need Time, Fed Gov. Says

Law360, New York (March 4, 2013, 6:01 PM EST) -- The Dodd-Frank Act and other global regulatory changes have given bank supervisors “promising” tools for ending the problem of "too-big-to-fail" banks, but regulators should be given more time to develop new measures before adopting them, a top Federal Reserve official said Monday.

Fed Gov. Jerome Powell said that although more work needs to be done to fully develop the Federal Deposit Insurance Corp.'s strategy for winding down a large, complex and interconnected financial firm using the orderly liquidation authority provided in Dodd-Frank, the bank backstop's plan...
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