4/30/2008

The Treasury said the Federal Reserve could, through proposed regulatory powers, curb excesses in the credit and asset markets so they don't threaten overall economic stability. A Treasury official said the Fed could use the enhanced authority to force financial institutions, including banks and hedge funds, to rein in practices that threaten financial stability. The proposals are part of the Treasury's blueprint for an overhaul of market regulation, which was published last month.

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