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 […]

Systemic Risk Council Letter to Chairmen of Fed and FDIC on Latest Round of Living Wills

On Tuesday, September 8, the Systemic Risk Council submitted a letter to Janet Yellen, Chairman of the Board of Governors of the Federal Reserve System, and Martin J. Gruenberg, Chairman of the Federal Deposit Insurance Corporation, commenting on the recent release of public “living will” disclosures for 12 large financial firms in accordance with the […]

Systemic Risk Council Letter Supports Vitter Amendment to Increase Capital Requirements for Big Banks

On May 20, the Systemic Risk Council sent a letter to Senator David Vitter (R-LA), offering strong support for his amendment to the “Financial Regulatory Improvement Act of 2015”, which would strengthen equity capital requirements applicable to the largest financial institutions. The letter states that the Council “has long supported stronger, simpler capital requirements for large, complex institutions, […]

Systemic Risk Council Letter to FSOC About Asset Management Products and Activities

On Wednesday, March 25, the Systemic Risk Council responded to a request for comment by the Financial Stability Oversight Council (FSOC) about asset management products and activities. The letter states: “We commend the FSOC for undertaking a comprehensive review of the asset management industry, consistent with its statutory responsibilities to identify and address systemic risks. […]