Finance › Speeches › Gary Gensler

Remarks before the Financial Stability Oversight Council: Financial Stability Guidance Regarding Non-Bank Financial Company Designations

· Gary Gensler, Chair of the U.S. Securities and Exchange Commission (United States)

Summary written by Dark Majestic in its own words · topics: financial stability, growth, investment and productivity

GG
· Gary Gensler Wiki · U.S. Securities and Exchange Commission WikiRemarks before the Financial Stability Oversight Council: Financial Stability Guidance Regarding Non-Bank Financial Company Designations

ContextSpeech by Gary Gensler, Chair of the U.S. Securities and Exchange Commission.

Why it mattersGensler supports restoring the power to designate risky non-banks.

Problems raised
  1. Systemic risk can come from non-bank firms.
  2. Past crises involved insurers and investment banks.
  3. Earlier designation guidance was weakened.
Solutions proposed
  1. Restore key elements of the 2012 designation guidance.
  2. Let FSOC designate risky non-banks.
  3. Each agency should strengthen resilience within its remit.
Read full speech on sec.gov ↗

More from Gary Gensler · U.S. Securities and Exchange Commission · all speeches

More speeches by Gary Gensler

Other leaders on financial stability