A top regulatory official Tuesday told a
Appearing before the
He added, the "
He said the
Although the focus of the review is the circumstances that led to the losses, "the
"Without speaking to the specifics of the case … the recent losses attest to the speed with which risks can materialize in a large, complex derivatives portfolio," he said. "The recent losses also highlight that it's important for financial regulatory agencies to have access to timely risk-related information about derivatives and other market-sensitive exposures, to analyze the data effectively, and to regularly share findings and observations."
The committee also heard from
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