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, […]

Paul Tucker to Succeed Sheila Bair as Chair of Systemic Risk Council

WASHINGTON, D.C.—On December 8, 2015, the Systemic Risk Council named Paul Tucker as its new Chair, succeeding Sheila Bair, the Council’s founding Chair from 2012 through 2015, who has assumed the role of Chair Emeritus. Mr. Tucker, currently a Fellow at the John F. Kennedy School of Government at Harvard University, formerly served as Deputy […]

Systemic Risk Council Congratulates Federal Reserve Board on Finalizing the G-SIB Capital Surcharge

In response to today’s action by the Federal Reserve Board to unanimously approve its proposed “capital surcharge” on the nation’s largest financial institutions, Sheila Bair, chair of the Systemic Risk Council, issued the following statement: “It is gratifying to see that the Governors of the Federal Reserve Board have moved ahead with final rules imposing […]

In Remembrance of The Honorable Harvey Goldschmid

The Systemic Risk Council has issued the following statement upon the passing of Harvey Goldschmid, a member of the Council: The members and staff of the Systemic Risk Council are deeply saddened by news of the passing of our colleague, Harvey Goldschmid, a member of the Council since its formation and one of its founders. […]

New Paper Finds Little Progress in Reducing the Complexity of Global Systemically Important Banks

Today, the Systemic Risk Council* released a research paper by Richard Herring and Jacopo Carmassi examining the complexity of the 29 institutions that have been designated as Global Systemically Important Banks (G-SIBs) by the Financial Stability Board in November 2013. Links to the full paper and executive summary are below. The authors found that in 2013 […]

Systemic Risk Council Statement About Repeal of Section 716 of Dodd Frank

On Friday, December 12, the Systemic Risk Council released the following statement about the repeal of Section 716 in the omnibus spending bill. “We wish to express our strong opposition to including in the omnibus spending bill a repeal of the so-called ‘swaps push-out’ provision of the Dodd-Frank financial reform law. While this provision only […]

Systemic Risk Council Announces Five New Members

Today, Systemic Risk Council Chair, Sheila Bair announced the following new members of the Systemic Risk Council: Sharon Bowles, Former Member of European Parliament and Former Chair of the Parliament’s Economic and Monetary Affairs Committee Jan Pieter Krahnen, Chair of Corporate Finance at Goethe-Universität in Frankfurt and Director of the Center for Financial Studies, a […]

Scott Powers Joins Systemic Risk Council

Today, Systemic Risk Council (SRC) chairman Sheila Bair welcomed Scott Powers as the newest member of the Council: “Scott Powers is an expert on systemic risk, financial markets and investor protection.  I am pleased and honored that he has agreed to bring his valuable perspective to the Systemic Risk Council.” Scott Powers is president and […]