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SIFMA Statement on Fed’s Final TLAC Rule

Release Date: December 15, 2016
Contact: Carol Danko, 202.962.7390, cdanko@sifma.org 

SIFMA Statement on Fed’s Final TLAC Rule

Washington, DC, December 15, 2016Today, SIFMA issued the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, on the Federal Reserve’s final total loss absorbing capacity (TLAC) rule.  The final rule requires designated global systemically important banks to maintain additional resources for loss absorbing capacity and imposes new structural and legal requirements that serve as an important component in ending ‘too big to fail.’:  

“A properly structured and calibrated TLAC requirement is an important component in the effort to end ‘too big to fail.’ This final rule ensures U.S. G-SIBs have adequate loss absorbing capacity to resolve, eliminating the risk of a taxpayer bailout.  We appreciate the Fed taking into consideration our comments and look forward to working with the next administration on efforts to create balanced regulations that eliminate systemic risk without restricting liquidity to the detriment of our markets.”


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SIFMA is the voice of the U.S. securities industry. We represent the broker-dealers, banks and asset managers whose nearly 1 million employees provide access to the capital markets, raising over $2.5 trillion for businesses and municipalities in the U.S., serving clients with over $20 trillion in assets and managing more than $67 trillion in assets for individual and institutional clients including mutual funds and retirement plans. SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA). For more information, visit http://www.sifma.org.

 

 


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Contact

In New York:
Katrina Cavalli
212.313.1181


-or-


 Liz Pierce

212.313.1173

 

In Washington:

Carol Danko
202.962.7390

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