U.S. regulators have instruments to deal with banking turmoil: ex-comptroller
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NEW YORK — Because the string of U.S. regional financial institution failures in latest months spurs speak in Congress about harder regulation, former Comptroller of the Foreign money Eugene Ludwig argues that regulators “have greater than sufficient authority” to deal with the issue.
Ludwig headed the Workplace of the Comptroller for the Foreign money, the company answerable for regulating nationwide banks, underneath President Invoice Clinton, steering the response to a credit score crunch within the early Nineties. He sees such a crunch as a “real potential downside” now, however one that may be stemmed by means of instruments like elevated deposit insurance coverage and expanded lending by the Federal Reserve.
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