Republicans propose end to Fed's quasi-fiscal activity

The US Senate

Republicans in the US Senate on Tuesday leaked an alternative package of regulatory reforms that would put a stop to credit channelling by the Federal Reserve, and specify that the central bank's lender of last resort operations can only apply to banks facing liquidity troubles.

The proposals have been crafted in opposition to a bill put forth by Chris Dodd, a Democrat and head of the upper chamber's banking committee, which on Monday failed to garner the votes required for an open debate.

Under

To continue reading...

You must be signed in to use this feature.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: