JOHNSON URGES SECURITIES POWERS FOR BANKS
Federal Reserve Board Vice Chairman
Manuel Johnson said the Federal Reserve favored adding
securities powers to banking legislation.
    "We support any willingness to add those powers to the
legislation," Johnson told the Women in Housing and Finance.
    "We would prefer to see those powers in the legislation."
    He was referring to a banking bill introduced by Sen
William Proxmire (D-Wisc) which would impose a moratorium on
extending new securities powers to banks.
 Reuter
