CongressionalHearings/TARP/CHRG-110hhrg46596/CHRG-110hhrg46596--197.txt Mr. Kashkari , '' Congressman , there is no question that clarity and certainty are very important for developing market confidence . FOMC2008_csv/FOMC20081216meeting--59.txt MR. MEYER Corporate bond yields should decline with Treasury bond yields , though perhaps less if supply effects are the main reason Treasury yields fall . FOMC2008_csv/FOMC20080430meeting--214.txt MR. MEYER In addition , the banking system and the Federal Reserve spend many millions of dollars each year to ensure and monitor compliance with complex reserve requirement rules . FOMC2008_csv/FOMC20081029meeting--147.txt MR. DUDLEY Now , obviously what complicates that in the current environment is the Federal Deposit Insurance Corporation 's guarantee on interbank funds going forward . CongressionalHearings/Dodd-Frank/CHRG-110hhrg45625/CHRG-110hhrg45625--52.txt At the Federal Reserve , we have sought to address financial market stresses with as minimal exposure for the U.S. taxpayer as possible . FOMC2008_csv/FOMC20080625meeting--300.txt MR. KOHN It will always need a great amount of judgment , combined with -- as you said , Mr. Chairman -- a process by which you make that decision , to help limit the moral hazard . CongressionalHearings/Dodd-Frank/CHRG-110hhrg45625/CHRG-110hhrg45625--184.txt In that case , the President , the Treasury Secretary , and two-thirds of the Federal Reserve Board can authorize open bank aid . CongressionalHearings/Dodd-Frank/CHRG-110hhrg44900/CHRG-110hhrg44900--20.txt These reports complement the Blueprint for regulatory reform issued by the Treasury in March , which focused on broader questions of regulatory architecture . FOMC2008_csv/FOMC20081216meeting--3.txt MR. DUDLEY In those areas in which the federal government , including the Federal Reserve , has applied the most force , the situation has generally stabilized or improved . FOMC2008_csv/FOMC20081216meeting--3.txt MR. DUDLEY The interest rate paid on excess reserves -LRB- IOER rate -RRB- has not been a perfect substitute for the Treasury SFP program . FOMC2008_csv/FOMC20081216meeting--3.txt MR. DUDLEY This is likely to lead to a rise in Treasury fails because , when general collateral repo rates are very low , the cost of shorting Treasury securities becomes negligible . CongressionalHearings/TARP/CHRG-110hhrg46593/CHRG-110hhrg46593--16.txt Working with the Treasury Department and the other bank regulators , the FDIC will do whatever it takes to preserve the public 's trust in the financial system . FOMC2008_csv/FOMC20080805meeting--124.txt MR. LACKER I hope , Mr. Chairman , that the group you 've commissioned to study the meaning of unusual and exigent circumstances can explore this terrain in a little more depth . CongressionalHearings/Dodd-Frank/CHRG-110hhrg46591/CHRG-110hhrg46591--44.txt Mr. Seligman , '' Mr. Chairman , we have reached a moment of discontinuity in our Federal and State systems of financial regulation that will require a comprehensive reorganization . FOMC2008_csv/FOMC20080916meeting--110.txt MR. DUDLEY 108 , MR. DUDLEY. , '' Well , I think the market participants would gain some comfort to the extent that the Federal Reserve as an institution indicates concern about what 's going on in the financial markets . CongressionalHearings/TARP/CHRG-110hhrg46593/CHRG-110hhrg46593--14.txt That oversight board includes the Secretary of the Treasury , the Secretary of Housing and Urban Development , the Chairman of the Securities and Exchange Commission , the Director of the Federal Housing Finance Agency , and the Chairman of the Federal Reserve Board . CongressionalHearings/TARP/CHRG-110shrg50416/CHRG-110shrg50416--170.txt Therefore , Treasury committed to provide $ 20 billion of TARP resources in support of a $ 200 billion Federal Reserve facility -- the Term Asset-Backed Securities Loan Facility -LRB- TALF -RRB- . CongressionalHearings/TARP/CHRG-110shrg50416/CHRG-110shrg50416--170.txt The Senior Preferred Stock Purchase Agreements signed between the Enterprises and Treasury ensure consultation or agreement with the Treasury on many aspects of the Enterprises activities . CongressionalHearings/TARP/CHRG-110shrg50416/CHRG-110shrg50416--170.txt It also created the Federal Housing Finance Oversight Board , which meets at least quarterly and includes the Secretaries of Treasury and HUD , as well as the Chairman of the SEC . CongressionalHearings/TARP/CHRG-110shrg50416/CHRG-110shrg50416--170.txt Given such market conditions , Secretary Paulson and Chairman Bernanke recognized that Treasury needed to use the authority and flexibility granted under the EESA as aggressively as possible to help stabilize the financial system . CongressionalHearings/TARP/CHRG-110shrg50416/CHRG-110shrg50416--170.txt b. Regulation of insurance companies is undertaken at the state level , not by the Treasury Department , and Treasury does not interfere in these regulatory-supervisory matters . CongressionalHearings/TARP/CHRG-110shrg50416/CHRG-110shrg50416--170.txt What specific steps has the Treasury Department undertaken to ensure that the funds are being used to accomplish this objective?A .3 . CongressionalHearings/Dodd-Frank/CHRG-110hhrg46591/CHRG-110hhrg46591--3.txt After all , the Federal Reserve 's lending money to AIG is no different from the Treasury 's investing capital in a bank . CongressionalHearings/TARP/CHRG-110shrg50416/CHRG-110shrg50416--17.txt The FDIC is working closely and creatively with Treasury on ways to use the recent rescue law to create a clear framework and economic incentives for systematically modifying loans . CongressionalHearings/TARP/CHRG-110shrg50416/CHRG-110shrg50416--17.txt Preventing unnecessary foreclosures will be essential to stabilizing home prices and providing stability to mortgage markets and the overall economy . CongressionalHearings/Dodd-Frank/CHRG-110hhrg44900/CHRG-110hhrg44900--9.txt And Chairman Bernanke , the Federal Reserve 's actions continue to help preserve confidence and bring stability to our financial markets and institutions . CongressionalHearings/Dodd-Frank/CHRG-110hhrg44900/CHRG-110hhrg44900--9.txt Mrs. Biggert , '' Thank you , Mr. Chairman , and thank you for holding today 's hearing on systemic risk . CongressionalHearings/Dodd-Frank/CHRG-110hhrg45625/CHRG-110hhrg45625--55.txt In this regard , the Federal Reserve supports the Treasury 's proposal to buy illiquid assets from financial institutions . CongressionalHearings/Dodd-Frank/CHRG-110hhrg45625/CHRG-110hhrg45625--55.txt Despite the efforts of the Federal Reserve , the Treasury , and other agencies , global financial markets remain under extraordinary stress . FOMC2008_csv/FOMC20080430meeting--215.txt MR. CLOUSE This system would share many of the key structural elements of the system for monetary policy implementation employed in the United Kingdom . FOMC2008_csv/FOMC20080430meeting--215.txt MR. CLOUSE The system could include a target balance '' `` band '' '' to afford banks some flexibility in meeting their voluntary target balance . CongressionalHearings/TARP/CHRG-110shrg50416/CHRG-110shrg50416--172.txt Working with the Treasury , the FDIC , and other agencies , the Federal Reserve believes that we must take all steps necessary to minimize systemic risk . CongressionalHearings/TARP/CHRG-110shrg50416/CHRG-110shrg50416--29.txt As provided in the Act , the Federal Reserve Board and its staff are consulting with Treasury regarding the TARP and Chairman Bernanke serves as Chairman of the Oversight Board for TARP . CongressionalHearings/TARP/CHRG-110hhrg46596/CHRG-110hhrg46596--440.txt Next question , the Treasury and the Federal Reserve turned Goldman Sachs and Morgan Stanley into banks over a weekend . CongressionalHearings/Dodd-Frank/CHRG-110hhrg46591/CHRG-110hhrg46591--47.txt All significant U.S. financial institutions that provide credit have some form of access to Federal Reserve liquidity facilities at this time . FOMC2008_csv/FOMC20080430meeting--213.txt MR. MADIGAN Finally , the Federal Reserve remains unable to pay explicit interest on balances held at the Federal Reserve by the Treasury and by foreign central banks . CongressionalHearings/TARP/CHRG-110hhrg44903/CHRG-110hhrg44903--50.txt Chairman Cox , we had a previous hearing here in the committee on systemic risk , and we had the Chairman of the Federal Reserve here at that time and the Treasury Secretary . FOMC2008_csv/FOMC20081029meeting--3.txt MR. DUDLEY Nine large banks announced two weeks ago that they will accept $ 125 billion of preferred stock investment from the Treasury .