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Fed may need more powers to support securities firms during crises: Dudley

By Lindsay Dunsmuir AMELIA ISLAND, Fla (Reuters) – The U.S. Federal Reserve may need more powers to provide emergency funding to securities firms in times of extreme stress in order to deal with a liquidity crunch, New York Federal Reserve President William Dudley said on Sunday. “Providing these firms with access to the discount window might be worth exploring,” Dudley said in prepared remarks at a financial markets conference in Amelia Island, Florida organized by the Atlanta Fed. The discount window is a credit facility through which…

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Fed may need more powers to support securities firms during crises: Dudley