Regulators must focus on risks, not specific firms -U.S. TREASURY
By Pete Schroeder
WASHINGTON, Nov 17 (Reuters) - The U.S. Treasury Department said on Friday regulators should refrain from singling out large non-bank financial firms for tougher scrutiny, and focus instead on closely monitoring risks across the whole financial system.
The eagerly awaited policy recommendation marks another win for the financial industry, which has been lobbying to change the current process of designating individual firms as "systemically risky," which they say is opaque and arbitrary. (Editing by Bernadette Baum)
