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Bernanke: Sovereign wealth funds in U.S. constructive
WASHINGTON |
WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke on Wednesday said the investment of sovereign wealth funds in U.S. assets is constructive and he encouraged banks to use them for additional capitalization.
"I think that's quite constructive and I think that we should be open to allowing that kind of investment," Bernanke told the U.S. House of Representatives' Financial Services Committee in answering questions after semi-annual testimony.
He added that there is an effective system in place to address risks to U.S. national security.
(Reporting By Joanne Morrison; Editing by James Dalgleish)
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