Erkki Liikanen Joins Systemic Risk Council

Today, the Systemic Risk Council announced that Erkki Liikanen, Chairman of the IFRS Foundation Board of Trustees and former Governor of the Bank of Finland, has become a member. Welcoming the appointment, SRC Chair Paul Tucker said “I am absolutely delighted that Erkki Liikanen is joining the Systemic Risk Council. Being able to draw on […]

Darrell Duffie Joins Systemic Risk Council, 23 July 2019

Today, the Systemic Risk Council announced that Darrell Duffie, of Stanford University, has become a member. Welcoming the appointment, SRC Chair Paul Tucker said “I am absolutely delighted that Darrell is joining the Systemic Risk Council. His remarkable combination of deep theoretical and practical knowledge will be invaluable in pursuing the Council’s mission of doing […]

Systemic Risk Council Urges Federal Reserve and FDIC Not to Relax Resolution-Planning Requirements for Large US Regional Banks

The Systemic Risk Council has today strongly urged the Federal Reserve Board and the Federal Deposit Insurance Corporation not to proceed with their proposals to relax resolution-planning requirements for the large regional US banks that are not globally systemic. Over recent months, the Fed and the FDIC have published proposals that, taken together, would relax […]

FSOC and non-bank financial companies

In March this year, the Financial Stability Oversight Council proposed amendments to its interpretive guidance on the supervision and regulation of certain non-bank financial companies. Paul Tucker, chair of the Systemic Risk Council, and Amias Moore Gerety, partner at QED, join Mark Sobel, US chairman of OMFIF, to discuss their views on the matter. They […]

Systemic Risk Council Urges US Treasury not to Marginalize Financial Stability Oversight Council’s Power to Designate Non-Bank Financial Intermediaries as Systemically Significant

WASHINGTON, D.C., May 21, 2019 The Systemic Risk Council urges the U.S. Treasury and other members of the Financial Stability Oversight Council to abandon their 6 March proposal to marginalize their power to designate individual non-bank financial firms as systemically significant. The proposed guidance, while framed in terms of setting preconditions for when the FSOC […]

SRC Issues Statement on S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act

As the Senate debates the issues addressed by S. 2155, specifically the leverage ratio, the Systemic Risk Council (SRC) reiterates its previous statement that the leverage ratio should not be altered in ways that create or exacerbate systemic risk. Our most recent statement on this issue, excerpted from a letter to Senators Crapo and Brown […]

Systemic Risk Council Comments on the Treasury Departments October 2017 Reports

WASHINGTON, D.C.—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, […]

SRC Issues Policy Statement to G20 Leaders on Defending and Strengthening Key Pillars of the Global Reform Program

WASHINGTON, D.C.—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. “The SRC has decided to put on paper our view of the essential ingredients of a safe and sound financial system,” said Sir Paul Tucker, Chairman […]

Jean-Claude Trichet to Join Systemic Risk Council as Senior Adviser

WASHINGTON, D.C.—On 19 May 2016, the Systemic Risk Council welcomes Jean-Claude Trichet as its newest member, joining Paul Volcker as a Senior Adviser to the Council. Mr. Trichet, currently Chairman of the Group of 30 Consultative Group on International Economic and Monetary Affairs, served as President of the European Central Bank from 2003 to 2011, […]