November 28, 2017 / 4:24 PM / a year ago

Fed chair nominee Powell sees no too-big-to-fail banks

WASHINGTON, Nov 28 (Reuters) - Improvements in U.S. bank regulation and supervision since the 2007-2009 financial crisis have eliminated the problem of “too-big-to-fail” banks, Federal Reserve chair nominee Jerome Powell told the Senate Banking Committee on Tuesday.

“Generally speaking I think the financial system is quite strong,” Powell said in his confirmation hearing. Asked if there are any U.S. banks that are still too big to fail in America, he responded, “I would say no to that.” (Reporting by Howard Schneider; Additional reporting by Lindsay Dunsmuir and Ann Saphir and Jason Lange; Editing by Chizu Nomiyama)

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