WASHINGTON (AP) -- Financial regulators on Monday announced an information-sharing agreement aimed at better detecting potential risks to the U.S. financial system.
Under the agreement, the two agencies will share information and cooperate across a number of important areas of common interest, including anti-money laundering efforts, bank brokerage activities as well as on clearing and settling financial transactions conducted by both banks and investment firms.
The Fed is the main regulator of banks, while the SEC oversees Wall Street investment firms.
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update on: fed-new job description
quoted from 'new job description': "The Fed is no longer just a regulatory agency presiding over a narrow group of businesses called banks. Rather, its mission increasingly is to maintain macro confidence — confidence that the entire financial system is functioning well as part of the whole economy."
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Charting the transition from a free people to an owned people (slaves)
Another information sharing agreement, another partnership, another piece of the puzzle placed, another move toward the creation of the regionalized global system. The Fed, a non-federal private organization, is step by step building the privatized single entity finanacial control system outlined in their "new job description". They will be monitoring and controlling everything as the tentacles spread throughout the new systems, this being one. More to come...watch and see.
see also and compare: cui-bono
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