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Bernanke: Sovereign wealth funds in U.S. constructive

WASHINGTON
Wed Feb 27, 2008 12:06pm EST

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.

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"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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