Key Issues

SYSTEMIC RISK COUNCIL RESPONDS TO SECURITIES AND EXCHANGE COMMISSION CONSULTATION ON REFORM OF MONEY FUNDS AND OTHER OPEN-ENDED FUNDS

WASHINGTON, D. C. —– On April 12, 2021, the Systemic Risk Council issued its preliminary response to the Securities and Exchange Commission consultation on the President’s Working Group report on reforming money market and other open-ended funds in the light of the March 2020 turmoil in U.S. short-term financing markets. The SRC welcomes the PWG […]

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 […]

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 […]

Time to look again at the financial system’s dangerous faultlines

More from SRC Chairman Paul Tucker on the urgency of undertaking steps to address lingering systemic vulnerabilities.  https://www.ft.com/content/0d848d03-7d66-4a76-a4f2-8f09980747fa [Editor’s note: This is behind a password protected firewall.] “The west cannot afford another financial crisis. It would be a disaster in every possible way domestically, and a geopolitical gift to strategic competitors in Beijing and elsewhere.”

STATEMENT BY THE SYSTEMIC RISK COUNCIL ON REIGNITING REFORMS TO ENSURE A RESILIENT AND STABLE FINANCIAL SYSTEM

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 […]

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 […]

The Fed Has Averted A Systemic Financial Crisis—For Now. Here are 3 Areas To Monitor.

By Reshma KapadiaApril 6, 2020 7:30 am ET Bad news is said to come in threes, but let’s hope full-blown crises don’t. The Covid-19 global health crisis rapidly became a global economic crisis, but, so far, it has not touched off a financial crisis. U.S. banks, for the most part, are in good shape, and central […]

Covid-19: Implications for international financial regulation

Paul Tucker, chair of the Systemic Risk Council and former deputy governor of the Bank of England, joins Mark Sobel, US chairman of OMFIF, to discuss the implications of coronavirus for the world economy. Since the 2008 financial crisis, much has been done to strengthen banks. But in recent years, the financial system has seen […]

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 […]