Financial regulators need to be on guard against the threat of future financial crises, particularly as banks boost pressure to roll back rules designed to shore up the financial system, a top Federal Reserve official said on Monday.
“Regulations have been strengthened and the bankers’ backlash is both evident and making headway,” Fed Vice Chairman Stanley Fischer said at the International Monetary Conference
in Toronto. “But often when bankers complain about regulations, they give the impression that financial crises are now a thing of the past, and furthermore in many cases, that they played no role in the previous crisis.”
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