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U.S. won't list systemically key firms: Geithner
WASHINGTON |
WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner said in testimony prepared for delivery on Wednesday that the United States would not identify in advance financial firms that it views as systemically important.
"Crucially under our proposals, there will be no fixed list of Tier 1 FHCs (financial holding companies), and identification of a firm as a Tier 1 FHC will not convey a government subsidy," Geithner said in remarks to the House of Representatives' Financial Services Committee, which were posted on its website on Tuesday.
(Reporting by Alister Bull; Editing by Leslie Adler)
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