Fed’s Tarullo calls for prompt action to regulate shadow banking
Daniel Tarullo, a member of the Federal Reserve Board of Governors, argued on June 12 that authorities should take "more or less immediate" steps towards improving regulation of the shadow banking system.
In his speech, Tarullo said that although the academic debate on shadow banking is ongoing, "it is neither necessary nor wise to await such conclusions in order to begin implementing a regulatory response". He suggested three major areas that regulators should focus on in the short run.
One
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