SIFMA today issued the following statement from
"As we discuss the changes that have taken place and the process of reforming prudential oversight of our largest financial institutions, policy makers and other stakeholders should not lose sight of the work that's already been accomplished. In fact, it is important that we consider the sum total of what has been implemented, and the related costs, when considering additional rules and standards. And, we must consider how the various new rules, when fully implemented, will work, or not, in tandem with one another.
"For example, we may want to ask: What is the appropriate level of capital and liquidity that keeps the system safe while still allowing it to serve the funding needs of the economy? We may want to think about how leverage ratios will work with liquidity ratios before we take on more long-term debt. We may also want to ask ourselves if ring fencing of capital will actually make the global system safer and more resilient. Finally, we must finish the good work we have started to create a global cross-border resolution mechanism which both regulators and markets believe will work in times of systemic crisis.
"As we move forward with new regulations and requirements, we must be cautious not to swing the pendulum too far or stray too far off the path to the point of creating disharmony. Together we have made great strides in strengthening our markets and restoring confidence in our financial system. I hope that today is just one of many occasions where we can come together to create dialogue and develop further opportunities for collaboration."
[Category: Financial Services]
TNS 24HariCha-140611-30FurigayJane-4763285 30FurigayJane
Most Popular Stories
- James Foley Beheading Video Is Real Thing: White House
- McDonald's Packages Coffee for National Distribution
- Apple Stock Bounces Back Big Time
- Notes From the July FOMC Meeting
- Honda's Safe Approach Pays Off in Sales
- Castro-Blanco Joins Fifth Street Finance Board
- GE Healthcare Bringing Jobs to Massachusetts
- Ballmer Steps Down From Microsoft Board
- Target Slashes Annual Profit Outlook
- Google Kid Accounts Plan Raises Worries