WASHINGTON — Richmond Federal Reserve President Jeffery Lacker opened a conference Friday about how to resolve too big to fail banks by saying it was a "daunting task," but one that was necessary to ensure confidence that they won't need to government bailouts in the future.

"Ensuring that the relevant portion of the financial sector is covered by robust and credible resolution plans can seem like a daunting task," he said in the remarks prepared for delivery at the conference co-sponsored by the Federal Reserve Bank of Richmond and the Board of Governors.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.