FSB appreciates Obama turning screw on risk reduction

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Source: agi

(AGI) - New York, 22 gen. - In a statement published on its website, the Financial Stability Board, chaired by Mario Draghi, warmly welcomes yesterday's proposals from US president, Barack Obama, 'to reduce risks deriving from the size and activities of the so-called banks that are too-big-to-fail'. The bulletin adds that: 'the proposals announced by the USA are among the range of options that the FSB is looking into'.

Read more: http://www.agi.it/business/news/201001222309-eco-ren1140-fsb_appreciates_obama_turning_screw_on_risk_reduction

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"The proposals announced by the US yesterday are amongst the range of options and approaches under consideration by the Financial Stability Board (FSB) in its work to address the moral hazard risks posed by too-big-to-fail (TBTF) institutions.
This work, which began last fall, will result in recommendations to G20 Leaders in October 2010. The FSB will publish an interim report on this work shortly after the June G20 Summit."

the whole press release: http://www.financialstabilityboard.org/press/pr_100122.pdf