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Article: Geithner says Federal Reserve best positioned for super regulator role
- Article from:
- Xinhua News Agency
- Article date:
- June 18, 2009
CopyrightCopyright 2009 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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Geithner says Federal Reserve best positioned for super regulator
role
WASHINGTON, June 18 (Xinhua) -- U.S. Treasury Secretary Timothy
Geithner said on Thursday that the Federal Reserve is best suited to
become a super regulator to oversee large institutions whose failure
could threaten the stability of the entire system.
"The Federal Reserve is best positioned to play that role," said
Geithner in testimony before the Senate Banking Committee. "It
already supervises and regulates bank holding companies, including
all major U.S. commercial and investment banks."
"Our plan gives a modest amount of additional authority -- and
accountability -- to the Fed to carry out that mission. But it ...