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US Fed’s Kashkari: Banks still too big to fail

( June 20, 2016, 21:16 GMT | Official Statement) -- MLex Summary: Neel Kashkari, president and chief executive of the US Federal Reserve Bank of Minneapolis, said the Dodd-Frank Act doesn’t go far enough and the largest US banks could still require a taxpayer bailout during a financial crisis. “We need massive structural changes in the financial system and among large banks,” said Kashari, who is about half-way through a year-long review of post-crisis reforms. He faulted one new global capital standard, known as total loss-absorbing capacity (TLAC), as overly complex and too dependent on the wisdom of regulators.See document below. ...

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