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Inside Washington (11/05/2010)
* WASHINGTON (11/8/10)--The Federal Reserve Board is being unusually open about the Federal Open Markets Committee’s decision to buy $600 million in additional long-term securities. Federal Reserve Chairman Ben Bernanke authored an op-ed article that appeared this week in the The Washington Post to spell out what is being done and the reasons behind the Fed’s actions. Bernanke’s article continues the Federal Reserve’s shift toward greater disclosure of the factors that are weighed in its decisions along with its goals for the future (American Banker Nov. 5). Observers said Bernanke is moving toward transparency as a way to boost confidence and support the economic agenda. Bernanke’s op-ed article did not address how the move is likely to impact the dollar or how it reflects overall fiscal policy. The Federal Reserve has made monetary policy moves of this size only twice before, in 2008 and 2009 … * WASHINGTON (11/8/10)--Regulators and officials from large banks are discussing how to develop “living wills” that would make it easier for regulators to respond if another banking crisis occurs. The Dodd-Frank law requires banks with the potential for systemic impact on the financial system to develop “living wills” plans. The Federal Deposit Insurance Corp. (FDIC) this week continued its series of roundtables focusing on the information that would be needed to give regulators a blueprint for untangling bank subsidiaries from holding companies after a crisis. Another key issue is determining the extent of a firm’s systemic reach. The FDIC and the Federal Reserve Board are charged with developing joint guidelines for developing the plans (American Banker Nov. 5). The agencies are expected to offer their guidance in early 2011 …


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