The Federal Reserve governor leading the central bank’s effort to tighten financial regulation has a decision to make as its governing board is reshaped: Should he stay or should he go?
The Federal Reserve is working to modify a bank-based capital model to cover insurance companies as much as they can under Dodd-Frank Act restraints, Fed Governor Daniel Tarullo told lawmakers at a Senate hearing.
Not long after President Barack Obama picked Daniel Tarullo for a seat on the Federal Reserve Board, he sat down for the standard briefing with the staff and promptly turned the tables on them.
"Reliance on short-term wholesale funding is among the more important determinants of the potential impact of the distress or failure of a systemically important financial firm."
- Daniel Tarullo on Dec 09, 2014
Tarullo Cites Progress but `Ways to Go' for Banks