Ben S Bernanke: Semiannual Monetary Policy Report to the Congress Testimony by Mr Ben S Bernanke, Chairman of the Board of Governors of the US Federal Reserve System, before the Committee on Banking, Housing, and Urban Affairs, US Senate, Washington, DC, 19 July 2006.
The current financial crisis has highlighted a fact that had become more and more apparent in recent years – that risks to the financial system can arise not only in the banking sector, but also from the activities of financial firms that traditionally have not been subject to the type of consolidated supervision applied to bank holding companies.