Yellen: U.S. Financial System Is 'Safer and Sounder' Than Before Crisis
June 27 2017 - 2:23PM
Dow Jones News
By Paul Hannon and David Harrison
LONDON -- The U.S. financial system is "safer and sounder" than
it was before 2008, although another crisis can't be ruled out,
Federal Reserve Chairwoman Janet Yellen said Tuesday.
Speaking at the British Academy, Ms. Yellen said the Fed is
spending more time on detecting threats to financial stability,
including in places that aren't subject to regulation.
"We have been very focused on making sure the core of our
financial system has enough capital that we can provide the
assurance that our major banks could go on lending to our economy
even after a major shock, " she said. "The system is much safer and
sounder."
Ms. Yellen also cited improvements to the "architecture" of the
system, including central clearing for an increased range of
derivatives contracts.
But she said another crisis can't be excluded, although she
hoped "it will not be in our lifetime."
Write to Paul Hannon at paul.hannon@wsj.com and David Harrison
at david.harrison@wsj.com
(END) Dow Jones Newswires
June 27, 2017 14:08 ET (18:08 GMT)
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