After the U.S. bailed out institutions deemed “too big to fail,” many of the largest global banks have expanded during the fiscal crisis, Federal Reserve Bank of San Francisco president and chief executive officer Eric S. Rosengren told an audience in London yesterday.
“Indeed, in many cases the sizes of the largest banks have become quite large relative to the sizes of both their home and host countries,” Rosengren said, according to prepared text of his remarksreleased by the Fed.
“As a result, the ability — more specifically, the economic capacity — of many countries to resolve troubled global banks is, in some instances, in question,” he said.
