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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. […]

Systemic Risk Council Supports Federal Reserve Board Proposal Of Capital Surcharge for Systemically Important U.S. Banks

On Monday, March 2, the Systemic Risk Council submitted a letter to the Board of Governors of the Federal Reserve System, supporting the Board’s recent proposal of a risk-based capital surcharge for U.S. bank holding companies identified as global systemically important banking organizations (G-SIBs) and calling for the proposal to be strengthened in several key […]

Systemic Risk Council Letter to Financial Stability Board About Systemically Important Banks in Resolution

On Monday, February 2, the Systemic Risk Council wrote a letter to the Financial Stability Board (FSB) about the consultative document recently issued by the FSB on the adequacy of the total loss-absorbing capacity (TLAC) of global systemically important banks (G-SIBs) in resolution. The letter states: “The Council has consistently supported requirements for G-SIBs to maintain robust levels […]

Systemic Risk Council Letter to Financial Stability Board About Cross-Border Recognition of Resolution Action

On Monday, December 1, the Systemic Risk Council wrote a letter to the Financial Stability Board about cross-border recognition of resolution action. The letter states: “We commend the Financial Stability Board for its progress in addressing too big to fail, and in particular, addressing the important cross-border issues that can contribute to systemic instability and impede […]

Systemic Risk Council Letter Commends U.S. Treasury For Protecting Financial Reforms

On July 7, the Systemic Risk Council sent a letter to U.S. Treasury Secretary Lew commending him and the department for taking a firm stance against including financial services regulation in the ongoing Transatlantic Trade and Investment Partnership (TTIP) negotiations. The letter states: “The United States and its banking, securities and futures regulators have made significant […]