Week InReview: March 18, 2016

NOTABLE QUOTABLES | (Mar 18) Fed's Dudley Says Banks Have Ultimate Responsibility for Risk: Federal Reserve Bank of New York President William Dudley, in welcoming remarks prepared for a bank supervision conference hosted by the New York Fed, said "The ultimate responsibility for risk identification and risk management remains with the supervised institution" and that "supervision can reduce the chance that a financial firm fails, but it can never provide a guarantee against failure." According to Dudley, "The Federal Reserve's role is to ensure that the institution has the necessary strong processes in place to achieve this objective."

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