NY Fed chief discusses regulation

Timothy Geithner, the New York Federal Reserve’s president and chief executive, said regulators need to respond quickly to financial developments and co-operate more with their international peers.

Speaking at the forum on global leadership in Washington yesterday, Geithner said: “[Policymakers] will have to find ways for regulations to evolve more quickly in response to developments in markets. They will have to explore ways to co-operate more closely with other governments, where national approaches alone cannot be effective.”

Geithner stressed that US regulators should examine the impact that rules have on competitiveness: “We need to be more attentive to the risk that specific aspects

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