Washington, D.C., June 2, 2023 – SIFMA today issued the following statement from president and CEO Kenneth E. Bentsen, Jr. on Congressional passage of the debt ceiling deal:

“SIFMA commends Congress for taking action to pass the debt ceiling deal agreed to last weekend. It is critically important the United States stands fully behind its obligations. A failure to act expediently would have had negative impacts throughout the financial system and would do irreparable harm to the U.S. economy. SIFMA applauds the President and Congress for working together to resolve the threat of the U.S. defaulting on its debt. The President signing the bill into law will ensure that the confidence in the creditworthiness of the United States will be preserved.”

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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 one million employees, we advocate on 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).