Systemic Risk Council June 7, 2013 Dear Chairman Bernanke: The Systemic Risk Council has consistently supported stronger and higher quality capital requirements for our largest banking organizations. We also support the implementation of Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) that gives the Federal Deposit Insurance Corporation (FDIC) […]
Systemic Risk Council April 5, 2013 Dear Chairman Bernanke: The Systemic Risk Council is writing in support of the Federal Reserve’s proposed rule regarding the supervision of foreign banking and nonbank financial operations (FBOs) in the United States. This proposed rule would implement the enhanced prudential standards and early remediation requirements of the Dodd-Frank Wall […]
Dear Commission: While we commend the Securities and Exchange Commission for raising the minimum capital required for the very largest broker-dealers that use the alternative net capital requirements, we remain concerned that the Commission (and other federal financial regulators) continues to allow large, complex financial institutions to use their own internal risk models to set […]
Systemic Risk Council January 23, 2013 Dear Chairman Bernanke, Chairman Gruenberg and Comptroller Curry: The Systemic Risk Council (SRC) is concerned by the recent decisions to weaken and delay global capital and liquidity standards under the Basel III accords. As you know, risk-absorbing capital, particularly when combined with stable liquidity, plays an essential role in […]
Systemic Risk Council January 18, 2013 Dear Financial Stability Oversight Council: The Systemic Risk Council (SRC) is writing to commend and support the FSOC for seeking public comment on proposals to reform money market funds. It has been more than four years of study since taxpayers were forced to guarantee money market funds and the […]
Contact: Jeremy Ratner, jratner@pewtrusts.org, (202)540-6507 Washington , D.C. – 12/07/2012 – The Systemic Risk Council1 expressed concern that one of the clearest and most important systemic fixes needed for markets is stuck in political gridlock. SRC Chairman Sheila Bair called for prompt resolution of the funding issues related to market regulators, especially the Securities and Exchange Commission (SEC) […]
Systemic Risk Council November 19, 2012 Dear Chairman Lieberman and Ranking Member Collins: We are writing to thank the Committee for deciding to delay the markup of S. 3468, the “Independent Agency Regulatory Analysis Act of 2012” to allow more time to vet this proposal. We have strong concerns about this legislation, particularly its impact […]
Contact: Jeremy Ratner, jratner@pewtrusts.org, (202)540-6507 Washington , D.C. – 12/07/2012 – Sheila Bair, former chair of the FDIC and current chair of the Systemic Risk Council (SRC) issued the following statement on the Council’s behalf in advance of today’s Senate Banking Committee Hearing “Oversight of Basel III”: “While we commend the financial agencies for seeking public comment […]
Systemic Risk Council October 4, 2012 Dear Chairman Bernanke, Comptroller Curry, and Acting Chairman Gruenberg: The Systemic Risk Council, an independent and non-partisan council formed by the CFA Institute and The Pew Charitable Trusts, appreciates the opportunity to comment on the three notices of proposed rulemaking cited above. We have been concerned about the slow […]
Contact: Jeremy Ratner, jratner@pewtrusts.org, (202)540-6507 Washington , D.C. – 09/13/2012 – Sheila Bair, former chair of the FDIC and current chair of the Systemic Risk Council (SRC) issued the following statement on the Council’s behalf: “We were deeply disappointed to learn that three SEC Commissioners have refused to publish for public comment a proposed rule to reduce […]