VOLCKER SAYS SENATE BILL WOULD LIMIT FED
Federal Reserve Board Chairman Paul
Volcker said a bill passed this week by the Senate banking
committee is too restrictive regarding the Federal Reserve.
    "I don't think our hands should be tied so much as in that
bill," he said.
    The bill would set a one-year moratorium on approval of
certain powers that banks have already applied to the Federal
Reserve for -- selling insurance, securities and real estate.
    Volcker added, however, that comprehensive new legislation
dealing with such issues is needed.
 Reuter
