Washington, D.C., November 19, 2019 – SIFMA today issued the following statement from President and CEO Kenneth E. Bentsen, Jr. on changes to the supplemental leverage ratio:

“Regulatory changes to the supplementary leverage ratio for certain banks reflect ongoing recognition of the need to review and revise regulations to ensure banking and capital markets activities are not unnecessarily restricted. Carrying these changes over to a wider universe of financial institutions is a logical next step. Policymakers and regulators should continue to take steps to ensure prudential regulations promote the stability of the financial system but do not negatively impact capital formation and economic growth.”

-30-

SIFMA is the leading trade association for broker-dealers, investment banks and asset managers operating in the U.S. and global capital markets. On behalf of our industry’s nearly 1 million employees, we advocate for legislation, regulation and business policy, affecting retail and institutional investors, equity and fixed income markets and related products and services. We serve as an industry coordinating body to promote fair and orderly markets, informed regulatory compliance, and efficient market operations and resiliency. We also provide a forum for industry policy and professional development. 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.