Fed Bolsters Tools to Avert Collapse of Big Banks

Dec. 20 (Bloomberg) -- The Federal Reserve sought to curb the risk of financial turmoil by strengthening its tools for preventing the collapse of large firms and demanding stricter oversight by companies’ boards of directors. The central bank’s proposed standards, aimed at averting a recurrence of turmoil following the collapse of U.S. mortgage finance, target banks with assets totaling $50 billion or more and financial firms deemed “systemically important.” Michael McKee reports on Bloomberg Television's "Bottom Line." (Source: Bloomberg)