Fed plans to create teams to review banks' practices

08/4/2009 | Bloomberg

The Federal Reserve plans to create teams of experts in various fields to bolster its reviews of the lending practices and overall health of the nation's financial institutions. Daniel Tarullo, governor of the Fed, plans to explain the overhaul when he testifies today before the Senate Banking Committee. "This program will be distinct from the activities of on-site examination teams so as to provide an independent supervisory perspective," according to Tarullo's prepared remarks.

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