Kohn compares UK and US macro-prudential experience
Former Fed vice-chair calls for 'major role' for central bank
Deposit rate deregulation is necessary for financial stability and essential to promote efficient allocation of resources, but the process of deregulation can also threaten stability, Donald Kohn, the former vice-chair of the Federal Reserve and an external member on the Bank of England's Financial Policy Committee, said in a speech in Beijing yesterday.
Discussing macro-prudential lessons for China by comparing the regulatory regimes of the US and the UK, Kohn also stressed the importance of
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