WASHINGTON--(BUSINESS WIRE)--Today, the Systemic Risk Council (SRC) issued notification of its comments to the Financial Stability Board (FSB) concerning the FSB’s proposed guidance on the resolution of central-counterparty clearing houses (CCPs). The Systemic Risk Council (SRC) considers that the proposed guidance is not fit for purpose as it currently stands. The full text of the comments can be seen here.
About The Systemic Risk Council
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.
The SRC was formed by CFA Institute and The Pew Charitable Trusts in June 2012 to monitor and encourage regulatory reform of U.S. capital markets focused on systemic risk. CFA Institute became the sole supporting organization in August 2015. The statements, documents and recommendations of the Council does not necessarily represent the views of the supporting organization.