Reuters: Regulatory News: US risk council says 8 clearinghouses "systemically important"

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US risk council says 8 clearinghouses "systemically important" Jul 18th 2012, 19:21 WASHINGTON, July 18 | Wed Jul 18, 2012 3:21pm EDT WASHINGTON, July 18 (Reuters) - The U.S. council of regulators on Wednesday chose eight clearinghouses as "systemically important," a label that will subject the financial institutions to tougher rules and more oversight, Treasury Secretary Timothy Geithner said. The Financial Stability Oversight Council, which was set up to monitor risks in the financial system and prevent a repeat of the 2007-09 economic crisis, will release the names of the clearinghouses later in the day, Geithner said. Geithner chairs the powerful group of financial supervisors.

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