The Systemic Risk Council (SRC or Council) is a Private Sector, Non-Partisan body of former Government Officials, 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.
On September 19, 2017, the Systemic Risk Council submitted a Comment Letter to the United States Department of Treasury (UST) on its Report of June 2017 on possible Reforms to Banking-System Regulation.
The Council believes that “the UST Report includes a number of worthwhile technical reforms and addresses important issues that are largely incidental to stability, but [is] concerned that some of the Report’s main recommendations would jeopardize the resilience of the financial system, the public finances and the welfare of citizens.”
The Panel of former Top Financial Regulators, Policymakers, and Academics warned the Trump Administration that some of the Recommendations it's made for Rolling Back Bank Rules under Dodd-Frank and other Laws could make it harder to Prevent the Collapse of Global Financial Firms and mitigate the Damage.
The Systemic Risk Council, a Group including former Bank of England Deputy Governor Sir Paul Tucker, ex-Federal Deposit Insurance Corp. Chair Sheila Bair, and former Federal Reserve Chair Paul Volcker, said in their Letter that several Recommendations.
CLICK HERE to read the 13 page (pdf) Systemic Risk Council Letter to Treasury Department.
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