Broker-dealers' solvency needs to be examined, according to Federal Reserve Bank of Boston President & Chief Executive Officer Eric S. Rosengren, who stressed "the need for more regulatory focus on broker-dealers."

"Despite the central role that broker-dealers played in exacerbating the [financial] crisis, too little has changed to avoid a repeat of the problem, I am sorry to say," Rosengren told the Hyman P. Minsky Conference, according to prepared text released by the Fed. "In short, I firmly believe that a reexamination of the solvency risks of large broker-dealers is warranted."

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