WASHINGTON — Despite "considerable progress" made by regulators to address too-big-to-fail, markets still attach "some probability to the government bailing out the creditors of a [systemically important financial institution]," Federal Reserve Governor Jeremy Stein said Wednesday, illustrating the need to continue efforts.

In fact, rating agencies are giving an "uplift" to large banks due to the assumed government support from which systemically important financial institutions are likely to benefit.

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