He also explains why he departed from the majority view at the July and September Federal Open Market Committee (FOMC) meetings.
Resolution regimes and the adoption of living wills are being considered to address this issue. It is often argued that it is difficult to unbundle them in a non-disruptive fashion. Under the circumstances, the option of public ownership of those too-big-to-fail institutions could also be reopened, keeping in view the advantages of diversity.