Fed's Ferguson - Banks shouldn't become complacent

US - A top Federal Reserve official on Monday warned banks against complacency in taking risks as they deal with slowing growth, though he said there was no reason to be alarmed about the downturn in earnings.

"After nearly a decade of steady improvement, earnings from core bank operations and other measures of financial strength for the U.S. banking system have taken an inevitable turn," said Fed Vice Chairman Roger Ferguson in prepared remarks to be delivered in a speech at Washington & Lee

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