Central Banking

Treasury shake-up to grant Fed more power

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The US Treasury has unveiled a series of recommendations for a major restructuring of financial services regulation, which will allot broad new powers to the Federal Reserve to attack systems risk, including the ability to send SWAT teams into any institution or market that might pose a threat.

Hank Paulson, the US Treasury Secretary, said on Monday 31 March that the proposals outlined a "different, yet critically important regulatory role with broad powers focusing on the overall financial

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