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Systemic Risk Council Calls for Renewed Debate on Reforms for Financial System Stability

·2 mins read

Ahead of a webinar next Wednesday, October 14, 2020, the Systemic Risk Council (SRC) issued a paper on further possible measures to underpin the resilience and stability of the financial system.

The market dislocations in March revealed continuing vulnerabilities in core markets. Central banks’ firepower stabilized conditions, but risks obscuring problems that should be addressed.

The SRC’s paper covers the regimes for bank equity capital, liquidity and resolution, as well as dynamic macroprudential policy and problems of regulatory complexity. In addition, the SRC stresses the need for reenergized efforts to address fragilities in shadow banking, levered trading markets, clearing houses, and mandates of market regulators.

Paul Tucker, the chair of the SRC said:

"Notwithstanding efforts to make the core of the financial system more resilient, there are problems remaining from urgent unfinished business, neglected issues, and some backsliding. Today’s paper, and the webinar next Wednesday, attempt to persuade the authorities to renew and reinvigorate efforts to ensure the financial system is safe and sound without impairing its contribution to the economy."

The webinar next Wednesday, hosted by CFA Institute, includes speakers from outside the SRC, including top policymakers from the United States and the European Union.

The full text of the statement is available here.

Information about the October 14 webinar is here.

For further information contact David Evanson at devanson@comcast.net or 215.460.8139 or Bristol Voss at bristol.voss@cfainstitute.org or 917.817.0888.

About The Systemic Risk Council. Sponsored by CFA Institute, The Systemic Risk Council (SRC or Council) is a private sector, non-partisan body of former government officials and financial and legal experts committed to addressing regulatory and structural issues relating to global systemic risk, with a particular focus on the United States and Europe. It has been formed to provide a strong, independent voice for reforms that are necessary to protect the public from financial instability. The goal is to help ensure a financial system in which we can all have confidence.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201012005749/en/

Contacts

David Evanson
devanson@comcast.net
215.460.8139

or

Bristol Voss
bristol.voss@cfainstitute.org
917.817.0888.