Federal Reserve Bank of Boston President Eric Rosengren said big international banks with broker-dealer operations pose risks to financial stability, and regulators need to ensure the firms hold sufficient capital.
Federal Reserve Bank of Boston President Eric Rosengren, a consistent backer of bond buying by the Fed, said the central bank should press on with the easing program until the labor market gains strength.
The Federal Reserve terminated an enforcement action against Bank of New York Mellon Corp. enacted last year after the world’s largest custody bank misstated collateral pledged to a government lending program.
Bank of America Corp., sued by U.S. attorneys in August over an $850 million mortgage bond, faces three more Justice Department civil probes over mortgage-backed securities, according to two people with direct knowledge of the situation.
Federal Reserve Bank of Boston President Eric Rosengren said central bankers’ difficulty in using communications as a policy tool is underscored by the recent rise in interest rates on expectations of a reduction in the pace of the Fed’s bond buying.
Federal Reserve Bank of Boston President Eric Rosengren, a consistent backer of record stimulus who votes on policy this year, said the Fed refrained from tapering its bond purchases last month because growth was lower than forecast and fiscal policy posed a risk to the outlook.
Federal Reserve Bank of Boston President Eric Rosengren said tougher oversight of money-market mutual funds is “overdue” and called on the U.S. Securities and Exchange Commission to adopt rules that curb risks to the financial system.