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Article: Unresolved Issues Haunt Systemic Bill; Lawmakers to spar over Fed power and fund for resolutions.(Washington)
- Article from:
- American Banker
- Article date:
- November 4, 2009
- Author:
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Byline: Cheyenne Hopkins and Stacy Kaper
WASHINGTON -A House Financial Services Committee vote on a bill to create a systemic-risk regulator is likely to be a long, painful slog, given the myriad unresolved issues still outstanding.
Though debate is set to begin today on the legislation, observers pointed to a host of issues that need to be addressed, including how much power the Federal Reserve Board should wield over other regulators, how to create a resolution fund to handle the failure of systemically important firms and how high to set proposed risk retention requirements for securitizations.
"This is going to be very contentious," said ...