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Fed's Tarullo Continues Push for Wholesale Funding Reform

"Federal Reserve Board Gov. Daniel Tarullo said Friday that short-term wholesale funding continues to pose a risk to the largest banks and that fixing such "structural vulnerabilities" is a top priority to protect the financial system.

"In a broad policy speech, he argued that an additional capital buffer on the biggest banks should be put into place and said that it must be a stand-alone requirement that is not beholden to economic conditions.

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