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Inside Washington (11/02/2010)
* WASHINGTON (11/3/10)--The Financial Stability Board issued a 26-page report containing more than 20 recommendations aimed at strengthening oversight of systematically important financial institutions. The report noted that before the financial crisis some supervisors failed to provide an appropriate balance between risk assessment and capital requirements. The board’s proposed changes seek to make systematically important institutions less vulnerable to potential failure (American Banker Nov. 2). Recommendations include expanding supervisory powers as well as enhancing horizontal reviews and stress tests. Improved macroprudential surveillance was also recommended to identify trends and developments likely to harm institutions’ risk profiles. The Financial Stability Board called on the Basel Committee on Banking Supervision to use peer review to examine stress-testing practices in its 2009 paper and create a stronger tool for identifying future risks …


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