NY Fed's Geithner on credit markets innovations

In the speech 'Credit markets innovations and their implications' given on 23 March Timothy Geithner of the Federal Reserve Bank of New York said turbulence in the U.S. market for high-risk mortgages is not likely to have a long-lasting effect on broader credit markets.

"The latest wave of credit market innovations has elicited some concerns about their implications for the stability of the financial system," Geithner told a credit market symposium hosted by the Federal Reserve Bank of Richmond.

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