Reuters: Regulatory News: Fed's George-must build appropriate bank safety net

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Fed's George-must build appropriate bank safety net Apr 11th 2012, 13:42 NEW YORK, April 11 | Wed Apr 11, 2012 9:42am EDT NEW YORK, April 11 (Reuters) - One of the first steps that must be taken to build a stronger financial system is correcting the incentives and "improper expansion" of federal safety net protections that allowed institutions to take excessive risks, a top Federal Reserve official said on Wednesday. "With regard to correcting incentives in banking, the most important challenge we face is in constructing an appropriate, but carefully limited, public safety net," Kansas City Fed President Esther George said in prepared remarks.

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