WASHINGTON — While banks have made significant progress raising capital levels since the Great Recession, increased focus on capital regulation has brought with it more complexity, making it harder for investors and the public to understand banks' financial conditions, Boston Federal Reserve Bank President Eric Rosengren said Monday.

"When the regulatory environment becomes more difficult for investors to understand, the efficacy of market discipline can erode," he said in remarks prepared for a speech at a Bank for International Settlements event in Abu Dhabi.

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