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Card Consolidation Credit Debt Federal Reserve Chairman Alan Greenspan said bankers are using complex financial instruments such as derivatives and improved technology to assess and manage risk.If you would like to receive late breaking news on stocks covered by AXcess News then you need to subscribe. By joining, you can stay ahead of the pack and receive the latest news in your email in-box first.Print This Page

rate futures show around a 90% chance that the Fed will lower its 4.75% overnight lending rate between banks by at least a 0.25% point on Wednesday.

Credit Union Oct 5, 2004 (AXcess News) New York - The top U.S. central banker says the country's banking system has weathered a recession and major corporate bankruptcies, and emerged "strong, vibrant and profitable."In a New York speech to a banking group Tuesday, Federal Reserve Chairman Alan Greenspan said bankers are using complex financial instruments such as derivatives and improved technology to assess and manage risk.He says this helps bankers run their businesses better, makes the financial system more resilient and contributes to a stable economy.

Many economists expect the central bank to hold back until later this year, when Fed officials could cut rates to combat rising unemployment.

Merchant Credit Guide Co Mr. Greenspan also said a wave of bank consolidations in the United States helps make these institutions "less inefficient."Source: Voice of AmericaAdvertisementAXcess News will be reporting on any new market trends related to this story. Members should watch their in-box for late breaking news. If you're not a member, consider joining now. Members get the latest business news, commentaries and stock picks delivered right to their in-box.

currency, especially while other major banks not keeping up the pace with the Fed's active rate cuts.

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