NY Fed's Dudley says Sifis must build firmer foundations
William Dudley, president of the Federal Reserve Bank of New York, said today he is "not yet convinced that breaking up large, complex firms" is the right way to solve the problem of ‘too big to fail' – arguing instead in favour of putting more effort into lowering the probability that systemic financial institutions fail.
He said there are three routes to tackling ‘too big to fail': building a credible resolution regime and more resilience in the financial system, so that large complex firms
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