Busted: Bankers and The Global Economy

November 4, 2010

U.S. Fed Opens New Office

Filed under: banking, business, central bank, corporatism, economy, federal reserve, recession — Tags: , , , , , , , — digitaleconomy @ 12:58 pm

“The Federal Reserve Board on Thursday established the Office of Financial Stability Policy and Research and appointed Board economist J. Nellie Liang as its director.

The office will bring together economists, banking supervisors, markets experts, and others in the Federal Reserve who will be dedicated to supporting the Board’s financial stability responsibilities. The office will develop and coordinate staff efforts to identify and analyze potential risks to the financial system and the broader economy, including through the monitoring of asset prices, leverage, financial flows, and other market risk indicators; follow developments at key institutions; and analyze policies to promote financial stability. It will also support the supervision of large financial institutions and the Board’s participation on the Financial Stability Oversight Council.”

“The Office of Financial Stability Policy and Research brings together a skilled group of people with a wide range of expertise to focus solely on financial stability,” Federal Reserve Chairman Ben S. Bernanke said. “The financial stability team will play an important role in implementing the Dodd-Frank Wall Street Reform and Consumer Protection Act, in our oversight of systemically important financial institutions, and in our overall surveillance of the financial markets and the economy.”

http://www.federalreserve.gov/newsevents/press/other/20101104a.htm

 

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