On the recordMarch 31, 2011
...by centralizing and standardizing specific classes of financial transactions, clearinghouses reduce the costs and operational risks...
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congress.govEditor's note · Context
Highlights benefits of clearinghouses in reducing costs and risks in financial transactions.
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Dodd-Frank has a pretty comprehensive strategy for addressing too-big-to-fail.
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Our mission as set forth by the Congress is a critical one: to preserve price stability; to foster maximum sustainable growth in output and employment; and to promote a stable and efficient financial system that serves all Americans well…
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As I have mentioned, it is a cost of these policies and it is one that we take very seriously.
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