Key among the many lessons to be learnt from the financial crisis is that managing liquidity risk is as essential as capital adequacy, and regulating credit and market risk, Ben Bernanke, the chairman of the Federal Reserve, said on Friday.
Bernanke used his annual Jackson Hole address to tell central bankers from around the globe that liquidity guidelines had to take into account the risks that inadequate planning by major financial institutions posed for the broader financial system. Liquidity
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