Fed’s Tarullo says wholesale funding is the most important gap in regulation


Daniel Tarullo, a member of the board of governors of the Federal Reserve, has warned that gaps in financial regulation still need to be plugged.

In a speech at the Peterson Institute for International Economics, Tarullo said the US had not "adequately addressed all the vulnerabilities" in the financial system. He highlighted wholesale funding as the most important threat, but said policies aimed at ending ‘too-big-to-fail' also needed work.

Tarullo said participants in the wholesale funding

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