The danger of financial instability in developing nations is a specter "haunting" international financial regulators, Federal Reserve Vice Chairman Alice Rivlin said.

Ms. Rivlin called the danger of economic instability spreading among nations "profoundly scary" at a time when the rapid flow of capital is eroding national borders. Her comments came in a speech Monday to the Institute of International Bankers, meeting in conjunction with the International Monetary Fund/World Bank annual meeting.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.