Federal Reserve Bank of Atlanta President Dennis Lockhart said financial regulators need to work toward smarter regulation that reduces the risks to financial stability.
“There is a tension” between “principles and simple rules” versus “detailed prescriptions in regulations,” Lockhart said at an Atlanta Fed conference at Stone Mountain, Georgia today. “The holy grail this is all about is smart, and I would say even wise, regulation.”
To contact the reporter on this story: Steve Matthews in Atlanta at firstname.lastname@example.org
To contact the editor responsible for this story: Chris Wellisz at email@example.com