Systemic Risk Council Urges Congress To Demand Renewed Vigilance In Preserving Stability After US Equity Market Episode

WASHINGTON, D. C. —– On March 3, 2021, the Systemic Risk Council issued a letter to the US Congress on the resilience and stability of the financial system in the wake of the recent extraordinary equity market volatility. In addition to well publicized questions on market integrity and efficiency raised by the GameStop episode, the […]

SRC Statement on Financial System Actions for Covid-19

The Systemic Risk Council (SRC or Council) is a private sector, non-partisan body of former government officials and financial and legal experts committed to addressing regulatory and structural issues relating to global systemic risk, with a particular focus on the United States and Europe. It has been formed to provide a strong, independent voice for […]


A decade ago the G20 leaders, supported by their finance ministers and central bank governors, approved a program of reform to restore the resilience and stability of the international financial system in the wake of the 2007-09 crisis. It is timely to think about what was left out or undone in the light of events […]

Statement By the Systemic Risk Council Addressed to the Chairman, Financial Stability Board, Bank for International Settlements on CCP Resolution

On 4 May 2020 the Financial Stability Board issued draft guidance on the resolution of central-counterparty clearing houses, seeking comments by 31 July. The Systemic Risk Council considers that the proposed guidance is not fit for purpose as it currently stands, since it does not provide a clear, internationally agreed solution to the problems of […]

Bank Dividends in Peril With Crisis Veterans Warning of Trouble

By Lisa Lee and Shahien Nasiripour — Bloomberg A long-running clash over the ability of Wall Street banks to weather hard times and still pay shareholder dividends is gaining urgency as the number of Covid-19 cases ticks up and economic data remain gloomy. Critics, including a number of government and Federal Reserve veterans of the […]

SRC Statement on Financial System Actions for Covid-19

STATEMENT BY THE SYSTEMIC RISK COUNCIL ADDRESSED TO G20 FINANCE MINISTERS AND GOVERNORS ON MEASURES TO CONTAIN ECONOMIC AND FINANCIAL CRISIS The Systemic Risk Council (SRC) makes the following statement on the response of the financial and economic authorities to the economic elements of the current pandemic health crisis.  Unlike 2007/08, this is not a […]

Jeremy Stein Joins Systemic Risk Council, January 2, 2020

Today, the Systemic Risk Council announced that Jeremy Stein, Chairman of the Department of Economics at Harvard University and former member of the Board of Governors of the Federal Reserve System, has become a member. Welcoming the appointment, SRC Chair Paul Tucker said “I am absolutely delighted that Jeremy Stein is joining the Systemic Risk […]

Systemic Risk Council Mourns Passing of Senior Advisor, Paul Volcker, Former Chair of the Federal Reserve Board

Washington, D.C. December 11, 2019 It is with the most enormous sadness that members of the Systemic Risk Council have heard that Paul Volcker has passed away. His contributions to public life, for the US and the world, are beyond measure. While most famous for taming inflation, Paul’s commitment to a stable financial system was […]