On February 21, 2018, the Systemic Risk Council submitted a comment letter to the Chairman Crapo and Ranking Member Brown of the U.S. Senate Banking, Housing and Urban Affairs regarding S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act (the “Bill”). The Council limited its comments to only the proposals to raise the […]
On February 23, 2018, the Systemic Risk Council submitted a comment letter to the United States Department of Treasury (UST) regarding the UST reports issued last October, entitled A Financial System That Creates Economic Opportunities: Capital Markets (Oct. 2, 2017) and A Financial System That Creates Economic Opportunities: Asset Management and Insurance (Oct. 26, 2017). […]
WASHINGTON, D.C.—On September 19, 2017, the Systemic Risk Council submitted a comment letter to the United States Department of Treasury (UST) on its Report of June 2017 on possible reforms to banking-system regulation. The Council believes that “the UST Report includes a number of worthwhile technical reforms and addresses important issues that are largely incidental […]
On September 19, 2017, the Systemic Risk Council submitted a comment letter to the United States Department of Treasury (UST) on its Report of June 2017 on possible reforms to banking-system regulation. The Council believes that “the UST Report includes a number of worthwhile technical reforms and addresses important issues that are largely incidental to […]
We live in a joined-up world and the only way to make our banking and financial system safe is to collaborate, asserted Sir Paul Tucker, chairman of the Systemic Risk Council (SRC). Speaking at the 70th CFA Institute Annual Conference in Philadelphia on May 23, Tucker observed that policies needed to make the financial system […]
Sir Paul Tucker, Former Deputy Governor of the Bank of England and Chair of the Systemic Risk Council, recently spoke with Börsen-Zeitung on the state of the global financial system and financial stability policy. The risk of a global financial crisis over the next three to five years is “certainly not negligible,” according to Tucker. […]
On February 27, 2017, the Systemic Risk Council released a policy statement to the finance ministers, governors, chief financial regulators, and legislative committee leaders of the G20 countries. In its statement, the SRC expressed its support for maintaining minimal international standards in global financial reform measures. In the wake of unresolved debates at the global […]
On October 15, 2016, the Systemic Risk Council submitted a comment letter to the Financial Stability Board (FSB) on its recent Consultative Document, in which the FSB proposed policy recommendations intended to address structural vulnerabilities in the asset management industry. In its letter, the Council expressed its support for the FSB’s work on potential risks […]
On 1 June 2016, Sir Paul Tucker delivered the keynote address at the Finance Watch Conference in Brussels. Sir Paul’s speech, entitled “Reform as Precondition for Competition and Innovation,” highlights the membership, mission, and important work of the Council in providing a needed, independent voice for financial stability. He observes that desirable competition and innovation […]
On April 14, 2016, the Systemic Risk Council submitted a comment letter to Janet Yellen, Chair of the Board of Governors of the Federal Reserve System (the “Fed”), commenting on the recent proposed rulemaking introducing total loss-absorbing capacity (“TLAC”) and long-term debt (“LTD”) requirements aimed at minimizing the disorder from the failure of large and […]