Fed board gets financial stability division

Federal Reserve

The Federal Reserve board of governors now has a division of financial stability, after its office of financial policy and research was renamed on May 10.

The office was established in November 2010, as the Fed's responsibilities expanded under the Dodd-Frank Act. It brought together economists, banking supervisors and "market experts".

It was designed to "co-ordinate staff efforts" in identifying and analysing potential risks to the financial system and wider economy. It has now been

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