New York Fed's Dudley says ‘much more' to be done to ensure financial stability
The President of the Federal Reserve Bank of New York, William Dudley, has said "much more must be done" to ensure financial stability, despite the "significant progress" that has already been made "in increasing the stability of the world's financial system".
In the President's Letter in the NY Fed's annual report, out today, Dudley picks out three areas for further work: living wills, and resolution of big failing financial institutions; wholesale funding, market structures and OTC derivatives
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