Stories

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 […]

Awaiting the Will to Ensure Financial Market Stability

Paul Tucker, chair of the Systemic Risk Council (sponsored by CFA Institute) and former deputy governor for financial stability at the Bank of England, says that financial markets are still facing serious stability risks. In a conversation with Yale SOM’s Andrew Metrick, director of the Yale Program on Financial Stability, Tucker said it’s time for […]

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 […]

Crisis-era regulators call on banks to halt distributions, de-leverage trading

Thursday, March 19, 2020 11:13 a.m. CDT by Thomson Reuters By Michelle Price WASHINGTON (Reuters) – Banks should immediately halt share buybacks, dividends and most staff bonuses to bolster capital and increase the capacity to lend to the real economy, a group of former senior regulators said in a statement to G20 finance ministers and central bankers […]

Republican $1tn plan, Paul Tucker on damage limits

Friday, March 20 Republicans in the US Senate have introduced legislation to inject more than $1tn of fiscal stimulus into the economy as it grapples with the coronavirus outbreak. Sir Paul Tucker, the former deputy governor of the Bank of England and current chair of the Systemic Risk Council, says it’s time for policymakers and […]

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 […]