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BankNews Mid-Week brings you the news you need every Wednesday, covering important industry issues for the states of Missouri, Kansas, Texas, Oklahoma, Nebraska, Colorado, Wyoming, New Mexico, Illinois and Iowa.
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Excerpt
March 10, 2010
BREAKING UP may be hard to do, but that is what the president of the Federal Reserve Bank of Dallas would like to see happen to so-called too-big-to-fail financial institutions. Speaking last week to the Council on Foreign Relations in New York City, Richard W. Fisher said he considers these banks to be the “greatest threat to our financial system’s stability.” An effective restructuring of the regulatory regime must “neutralize” them, he suggested.
“The existing rules and oversight are not up to the acute regulatory challenges imposed by the biggest banks,” the Fed official said. “First, they are sprawling and complex, so vast that their own management teams may not fully understand their own risk exposures. If that is so, it would be futile to expect that their regulators and creditors could untangle all the threads, especially under rapidly changing market conditions."