Obama wants Fed to monitor systemic risk - report

The US administration will reveal that it wants the Federal Reserve to regulate America's largest and most interconnected financial firms later this week, reports say.

The Wall Street Journal, a newspaper, reported on Monday that Barack Obama, the US President, would on Wednesday release a white paper for regulatory reform that would task the Fed with responsibility for systemic risk. The move would be part of a sweeping overhaul, which would also grant the government the power to disband sys

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