Thursday, April 25, 2013

Cyber Attacks, Fire Sales


(Reuters) - Treasury Secretary Jack Lew said on Thursday certain parts of financial markets still needed protection against destabilizing runs, laying out priorities for the country's top risk council.
"We need to strengthen markets that may be susceptible to destabilizing runs and fire sales," Lew said in statements prepared for a presentation of the annual report of the Financial Stability Oversight Council.
The report also spells out other priorities, such as dealing with the threat of cyber attacks, fixing the housing finance system and overhauling financial benchmarks such as Libor, Lew said.