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 […]
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. […]
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 […]
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 […]
“I am pleased to announce that I have agreed to serve as a senior advisor to DLA Piper, a major, global law firm. I will be focusing on its international practice, particularly its public sector clients. I also hope to do compliance monitoring work at the firm. In addition, DLA has a substantial pro bono […]
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 […]