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Hoenig on macro aspects of financial supervision

In the speech 'Exploring the Macro-Prudential Aspects of Financial Sector Supervision' given on 27 April Thomas Hoenig of the Kansas Fed said he agreed with those who stress the need to take a systemwide or macro prudential view of financial market supervision. It remains important today as we move toward a more market-driven financial system and witness rapid growth in capital markets, he concluded.

"I think we have already come far in improving the overall resiliency of our financial system and

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