FDIC's Bair advocates council of regulators

05/6/2009 | Reuters

In prepared testimony, Federal Deposit Insurance Corp. Chairwoman Sheila Bair said the U.S. needs both a regulator to oversee the largest financial institutions and a council of regulators to supervise threats to the system. "A distinction should be drawn between the direct supervision of systemically significant financial firms and the macro-prudential oversight of developing risks that may pose systemic risks to the U.S. financial system," Bair said.

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