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The Nation

March 28, 1985

Federal Reserve Chairman Paul A. Volcker said that the Fed should retain an active role in day-to-day bank supervision so it will have a trained corps of examiners to deal with problems that pop up in the nation's banking system. Volcker cited the Fed's role in the Ohio savings and loan crisis earlier this month as an example of why the central bank needs its own staff of auditors. The chairman was testifying before a House subcommittee considering an Administration proposal to revise the federal bank regulation system.

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