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 […]
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 […]
Sheila Bair, chair of the Systemic Risk Council, released the statement below following the SEC’s meeting on Wednesday, July 23: “I know this has been a difficult issue for the SEC, and I commend Chairman Mary Jo White for her strong leadership in guiding the agency to final rulemaking. I also applaud the SEC for […]
Today, Systemic Risk Council (SRC) chair Sheila Bair welcomed Sallie Krawcheck as the newest member of the Council: “Sallie Krawcheck is a leader and expert on financial institutions and the markets. Her hands-on experience at the highest levels of finance is second to none. I am pleased and honored that she has agreed to join […]
Statement by Sheila C. Bair, Former Chair of the FDIC and Chair of the Systemic Risk Council “I applaud the federal banking agencies for finalizing a strong simple leverage ratio to work in tandem with the more complex risk-based standard. These tougher capital rules will enhance the durability of our economic recovery and buttress the […]
Chairman Sherrod Brown Senate Committee on Banking, Housing and Urban Affairs Subcommittee on Financial Institutions and Consumer Protection 534 Dirksen Senate Office Building Washington, DC 20510 Re: Subcommittee Hearing: “Finding the Right Capital Regulation for Insurers” Dear Chairman Brown and Members of the Subcommittee: Thank you for the opportunity to present my views on the […]
Statement from Sheila C. Bair on her appointment as an Independent Director to the Board of Grupo Santander, SA “I am pleased to be appointed as an independent director to the board of Grupo Santander, SA., the Madrid-based Spanish bank which owns global banking operations. As an independent director my role will be to help […]
Publication: New York Times Author: Gretchen Morgenson 1/5/2014 – Regulators made some real progress last year attacking the risks of too-big-to-fail banks. The Volcker Rule and other Dodd-Frank reforms were completed, and, perhaps even more important, three big regulators devised a proposal for tougher capital rules intended to ensure that banks would never require a government bailout when their risky bets […]
Publication: New York Times Author: Simon Johnson 12/19/2013 —In modern American political discourse, it is unusual to see ideas explode before your very eyes. It’s much more typical for bad ideas to drift away quietly – or alternatively to stick around, year after year, despite being completely at odds with the facts. On Dec. 11, at a […]
Publication: Financial Times Author: Paul Volcker and John Reed 12/11/2013 —Much has been written about the degree of progress in continuing financial reform. Too little credit, however, has been given to regulators for their efforts to impose a simple, commonsense, leverage restriction on our largest bank holding companies. Read the full editorial, A Safer Financial System is Now Within […]