Council of regulators focuses its attention on clearinghouses

11/24/2010 | Reuters · Hill, The

The Financial Stability Oversight Council is seeking comment on a proposed rule that would declare securities clearinghouses "systemically important" to the economy, a move that could bring them under tighter regulation and give them access to the Federal Reserve's emergency lending facilities. "This critical step will help enable the council to place under heightened oversight all financial institutions, not just banks, that could pose a threat to our financial system," Treasury Secretary Timothy Geithner said.

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Reuters · Hill, The

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