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Fed's Bies on corporate governance

In the speech 'Corporate Governance: Where Do We Go From Here?' given on 19 May Susan Schmidt Bies of the Federal Reserve repeated that banks involved in setting up structured finance deals need to ensure they are undertaken for proper purposes.

In her remarks, Bies reiterated a recent warning on deals that help companies exploit accounting and tax loopholes.

"When banking organizations provide advice on, arrange, or actively participate in complex structured finance transactions, they may assume

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