Fed’s Yellen warns authorities of new financial risks


Financial stability authorities and market participants need to be alert to new structures and products, and not just those that caused problems in the past, Janet Yellen, vice-chair to the Federal Reserve, said on Friday.

At the Fourteenth Annual International Banking Conference in Chicago, Illinois, Yellen said: "New financial products – for example, exchange-traded funds and collateralised commercial paper – may foster more efficient intermediation, but they may also raise systemic risk if

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