WASHINGTON, D.C.—On August 8, 2018, the Systemic Risk Council submitted a comment letter to the Federal Reserve Board of Governors and the Office of the Comptroller of the Currency on their proposals to relax the enhanced supplementary leverage ratio for big banks, and the so-called “Volcker Rule” constraints on using insured deposits to fund speculative trading and investments.

While in principle the Systemic Risk Council (SRC) supports the desire to simplify the current regulatory regime, the SRC believes the current proposals would make the US banking system materially less resilient and so expose the American economy and people to unnecessary risks. As such, the SRC is proposing an alternative way forward.

Read the full letter here