Client Alert
| September 11, 2008
The Macroprudential Regulator: Modeling the Financial Network
In his speech (the "Speech") on August 22, 2008 at the Annual Economic Symposium of the Federal Reserve Bank of Kansas City, Federal Reserve Board Chairman Ben S. Bernanke described several things that the Federal Reserve Board (the "Fed") has done or is considering in order to reduce systemic risk in the financial system. Mr. Bernanke pointed out that the Federal Open Market Committee maintains "a relatively low target for the federal funds rate" and that the Fed has established "a variety of collateralized lending programs." In addition, he noted, the Fed has cooperated with other regulators and developed new regulations regarding mortgage and credit card lending.
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