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Systemic Risk Council Comments on the S.2155, the Economic Growth, Regulatory Relief and Consumer Protection Act

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 […]

Systemic Risk Council Comments on the Treasury Departments October 2017 Reports

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). […]

Systemic Risk Council Comments on the Treasury Departments June 2017 Report

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 […]

Systemic Risk Council Letter to Treasury Department

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 […]

Sir Paul Tucker: Risk of Global Recession Small, But Still Real

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. […]

Systemic Risk Council Policy Statement to G20 Leaders

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 […]

Systemic Risk Council Letter to FSB on Asset Management Activities

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 […]

Sir Paul Tucker Speaks at Finance Watch Conference in Brussels

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 […]

Systemic Risk Council Letter to Fed on Total Loss-Absorbing Capacity and Long-Term Debt Proposal

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 […]