Reuters: Regulatory News: U.S. risk council ready to tap firms for oversight

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

U.S. risk council ready to tap firms for oversight Apr 3rd 2012, 19:01 WASHINGTON, April 3 | Tue Apr 3, 2012 3:01pm EDT WASHINGTON, April 3 (Reuters) - The U.S. financial risk council approved on Tuesday a final rule laying out how it will decide which giant financial companies outside the banking industry will face new scrutiny by the Federal Reserve in hopes of preventing a repeat of the 2007-2009 financial crisis. The financial industry's attention will now turn to which companies will actually be tapped for this additional oversight, something Treasury Secretary Timothy Geithner has said should happen by the end of this year.

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