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Fed approves curb to future ‘too big to fail’ lending
November 30, 2015 by admin · Leave a Comment
The Federal Reserve Board on Monday approved a proposal to curb its emergency lending powers, a change demanded by Congress after the central bank's controversial decision to aid AIG , Citigroup and others in 2008. The rule, unanimously approved by the Fed's Washington-based board in an open meeting, requires that any future emergency lending be only “broad-based” to address larger financial market…
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Fed approves curb to future ‘too big to fail’ lending