It also made it harder for the institutions involved in the process of credit supply and derivative creation to assess their credit risk exposure and price it, because of the greater number of independent institutions involved, and the complexity of the transactions and instruments.
For release on delivery 11:45 a.m. EST November 30, 2016  A View from the Fed  Remarks by Jerome H. Powell Member Board of Governors of the Federal Reserve System at “Understanding Fedspeak,” an event cosponsored by the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution and the Center for Financial Economics at Johns Hopkins University Washington, D.C.  November 30, 2016  Thanks to David Wessel and the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution for putting together this event.