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Federal Reserve Gov. Powell addresses regulatory reform

Joe Mont | April 26, 2017

Add Federal Reserve Governor Jerome Powell to the growing chorus of those seeking a reconsideration of the nation’s regulatory regime.

“Today, our financial system is without a doubt far stronger than it was before the crisis,” Powell said during an April 20 speech at The Global Finance Forum, Washington, D.C. The largest financial institutions now hold much higher levels of higher-quality capital, he said. They hold higher levels of liquidity, and are much less reliant on runnable short-term funding.

“They are subject to rigorous, forward-looking capital stress tests that recognize the dynamic nature of financial risks,” Powell added. “And they have submitted several rounds of resolution plans that are helping to ensure that they could be safely reorganized should all these other safeguards prove insufficient.”

Financial market infrastructures are also much stronger, he said,...

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