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Fed's Fischer sees little benefit in breaking up too-big banks
Reuters: The Federal Reserve's new vice chair all but dismissed the idea of breaking up the largest U.S. banks, saying on Thursday it is unclear that such a complex task would help stabilize the country's financial system.
In his most detailed speech on financial regulation since becoming the Fed's No. 2 official, Stanley Fischer also floated the idea of adding a financial stability mandate to all of the U.S. regulators under the umbrella of the Financial Stability Oversight Council (FSOC), a coordinating committee.
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