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 […]
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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 […]
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 […]
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 […]
Today, the Systemic Risk Council announced that Jeremy Stein, Chairman of the Department of Economics at Harvard University and former member of the Board of Governors of the Federal Reserve System, has become a member. Welcoming the appointment, SRC Chair Paul Tucker said “I am absolutely delighted that Jeremy Stein is joining the Systemic Risk […]
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 […]
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 […]
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 […]
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 […]