Fed should have adopted BoE approach to mortgage lending – Tarullo
BoE’s approach to leveraged lending aimed to prevent “hard stop”, Cunliffe says
The Federal Reserve should have used the Bank of England’s leveraged lending, a former governor of the US central bank has said.
“I wish in retrospect we had done something more like the Bank of England did with their residential mortgage lending,” Daniel Tarullo told a panel at the International Monetary Fund and World Bank’s annual meeting in Washington.
In 2013, the US central bank’s office for financial stability recorded a rapid increase in leverage lending, Tarullo said.
“The
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