Fed's Dudley expresses concern over wholesale funding

FXStreet (Łódź) - New York Fed President William Dudley stressed on Wednesday that there was a need to make wholesale funding more stable, as it remained vulnerable.

"Much has been done over the past few years to mitigate the structural flaws that make wholesale funding a weak point," he admitted, adding however that there was still work to be done.

He also pointed out that in the post-crisis environment it was much more difficult to conduct extraordinary interventions in shadow banking.