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Systemic Threats, Supervisory Shortfalls
Moody's Talks - Inside Economics
The Fed's Decision to Not Substitute SBB to Enhance Regulation
If SBB had been deemed systemic before that day, they would have been subject to enhanced prudential standards under the federal. The Federal Reserve is the one who decides whether or not you're systemic for regulatory purposes and the Fed had chosen not to enhance regulation. If we didn't bail out money market mutual funds due to COVID, it would be systemic. I mean, at least that was the judgment of the people involved.
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