Fed should have adopted BoE approach to mortgage lending – Tarullo

From left to right: Tobias Adrian, Claudia Buch, Jon Cunliffe, Hyun Song Shin, Daniel Tarullo and Carolyn Wilkins. The Federal Reserve should have use

From left to right: Tobias Adrian, Claudia Buch, Jon Cunliffe, Hyun Song Shin, Daniel Tarullo and Carolyn Wilkins.

The Federal Reserve should have used the Bank of England’s leveraged lending, a former governor of the US central bank has said.

“I wish in retrospect we had done something more like the Bank of England did with their residential mortgage lending,” Daniel Tarullo told a panel at the International Monetary Fund and World Bank’s annual meeting in Washington.

In 2013, the US central bank’s office for financial stability recorded a rapid increase in leverage lending, Tarullo said.

“The underwriti

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