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Washington
Inside Washington (02/16/2010)
* WASHINGTON (2/17/10)--The Senate has confirmed three Treasury officials: Charles Collyns, assistant secretary for international finance; Marisa Lago, assistant secretary for international markets and development; and Mary Miller, assistant secretary for financial markets. Collyns was previously deputy director of the International Monetary Fund’s Research department, Lago was president/CEO of Empire State Development, and Miller worked at T. Rowe Price Group Inc. as director of its fixed income division ... * WASHINGTON (2/17/10)--Creating an agency to collect and analyze data needed to monitor systemic risk will be costly and complex, said Federal Reserve Board Gov. Daniel Tarullo at a Senate subcommittee meeting Friday. The financial crisis has underscored gaps in the data collection, and an independent data collection agency might be more effective than the current process where each regulator collects its own data (American Banker Feb. 16). However, such an agency would be expensive, Tarullo said. Separation of data collection and regulation also could diminish accountability if supervisors don’t have the authority to shape reporting requirements with supervisory needs, he added. Some policymakers have supported creating such an agency. Sen. Jack Reed (D-R.I.) introduced a bill Feb. 4 to establish the National Institute of Finance for data collection. Reed said regulators did not have the data they needed during the financial crisis ...


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