Kroszner suggests rules to avert another subprime
US financial regulators need to introduce a set of guidelines on loan modifications in the wake of the subprime crisis, according to Randall Kroszner, a governor at the Federal Reserve.
Kroszner also said that Federal Housing Administration programs must be modernised and that regulation must be introduced to prevent future crises in the housing market.
Speaking in Washington on Monday, he said that the Fed planned to issue proposals based on a review of the mortgage-related rules under
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