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By any measure, banking in the United States is strong, vibrant and profitable. U.S. banking system, having weathered a recession and the bankruptcies of several big corporations, is in very good shape, US Federal Reserve Chairman Alan Greenspan said on the 5th October 2004.
According to Fed Chief, Technology and the use of sophisticated financial instruments to hedge risks have helped banks navigate through sometimes difficult economic and financial waters. The Fed chairman cautioned, that bankers and regulators must continue to improve risk management systems, particularly as loan losses during recessions in the 1980s and early 1990s fade.
Under the circumstances, the present health of banking is a dramatic testament to both the management skills of bankers and the ability of regulators and legislators to adopt, albeit slowly, to change, Greenspan concluded.
.... Better risk management essential for banks' success
.... Zimbabwe banks are weak
.... Asian Development Outlook 2004
.... IMF on Indian government deficit
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