Federal Reserve Bank of New York President William C. Dudley argued that "aggressive action" is needed across the financial industry to address market-wide issues concerning the global market transition away from LIBOR.
NY Fed President and CEO William Dudley encouraged financial institutions to ensure that incentives are aligned with responsible behavior, and that controls are in place for the early detection of misconduct.
Federal Reserve Board of New York President and CEO William C. Dudley described policy changes in the Treasury markets caused by "increased electronification of trading, the changing nature of intermediation and liquidity, and the entry of new market participants."
Federal Reserve Bank of New York President and CEO William C. Dudley shared regulatory lessons from the financial crisis and discouraged regulators from making significant changes to the Dodd-Frank Act.
Federal Reserve Bank of New York President William C. Dudley offered several principles to consider when evaluating the post-financial crisis regulatory regime and raised questions about the effectiveness of the Volcker Rule.