Fed's Bies on innovation in financial markets

In the speech 'Innovation in financial markets and banking relationships' given on 27 April Susan Bies of the Federal Reserve said the credit swap market must prevent inside information on lending customers leaking to trading desks. A credit swap industry initiative to keep the private and public arms of these institutions apart had not answered every issue, she added.

"Questions of interpretation may arise in determining whether and to what extent information is public or private, especially for

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