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Erkki Liikanen Joins Systemic Risk Council

Today, the Systemic Risk Council announced that Erkki Liikanen, Chairman of the IFRS Foundation Board of Trustees and former Governor of the Bank of Finland, has become a member. Welcoming the appointment, SRC Chair Paul Tucker said “I am absolutely delighted that Erkki Liikanen is joining the Systemic Risk Council. Being able to draw on […]

Darrell Duffie Joins Systemic Risk Council, 23 July 2019

Today, the Systemic Risk Council announced that Darrell Duffie, of Stanford University, has become a member. Welcoming the appointment, SRC Chair Paul Tucker said “I am absolutely delighted that Darrell is joining the Systemic Risk Council. His remarkable combination of deep theoretical and practical knowledge will be invaluable in pursuing the Council’s mission of doing […]

Systemic Risk Council Urges Federal Reserve and FDIC Not to Relax Resolution-Planning Requirements for Large US Regional Banks

The Systemic Risk Council has today strongly urged the Federal Reserve Board and the Federal Deposit Insurance Corporation not to proceed with their proposals to relax resolution-planning requirements for the large regional US banks that are not globally systemic. Over recent months, the Fed and the FDIC have published proposals that, taken together, would relax […]

FSOC and non-bank financial companies

In March this year, the Financial Stability Oversight Council proposed amendments to its interpretive guidance on the supervision and regulation of certain non-bank financial companies. Paul Tucker, chair of the Systemic Risk Council, and Amias Moore Gerety, partner at QED, join Mark Sobel, US chairman of OMFIF, to discuss their views on the matter. They […]

Systemic Risk Council Urges US Treasury not to Marginalize Financial Stability Oversight Council’s Power to Designate Non-Bank Financial Intermediaries as Systemically Significant

WASHINGTON, D.C., May 21, 2019 The Systemic Risk Council urges the U.S. Treasury and other members of the Financial Stability Oversight Council to abandon their 6 March proposal to marginalize their power to designate individual non-bank financial firms as systemically significant. The proposed guidance, while framed in terms of setting preconditions for when the FSOC […]

Systemic Risk Council Urges Action on Resolution of Central Counterparty Clearing Houses

WASHINGTON, D.C.—On March 18, 2019, the Systemic Risk Council (SRC) responded to the Financial Stability Board’s (FSB) late-2018 Discussion Paper on the resolution of distressed central counterparty clearing houses (CCPs). Commenting that the Discussion Paper “is as welcome as it is overdue” given that many of today’s CCPs are “super systemic” and so too important […]

Systemic Risk Council Comments on “JOBS Act 3.0” Bill

WASHINGTON, D.C.—On October 3, 2018, the Systemic Risk Council (SRC) sent a comment letter to Senators Michael Crapo and Sherrod Brown regarding the “JOBS Act 3.0” bill, S. 488, which has passed in the House of Representatives and may be taken up by the Senate Committee on Banking, Housing, and Urban Affairs. The letter specifically […]