The Accord will make the global financial system more stable and reduce the likelihood of future devastating financial crises by requiring internationally active banks to hold more and better quality capital and more robust liquidity buffers against the risks they run.
Bernanke discusses the benefits of the Basel 3 Accord for financial stability.
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the worst financial crisis in global history, including the Great Depression.
Although monetary policy is working to promote a more robust recovery, it cannot carry the entire burden of ensuring a speedier return to economic health. The economy's performance both over the near term and the longer run will depend…
Yes, my suggestion to Congress is to consider possibilities that involve somewhat less restraint in the near term and more action to make sure that we are on a sustainable path in the long run.
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