Letters

Proposed Amendments to EU Law Affecting Global Financial Stability

Summary

SIFMA and The Clearing House (TCH) provide comments alerting the Financial Stability Oversight Council (FSOC) to a pending proposal to revise the European Union’s legal framework for bank resolution that would reduce financial stability in the United States and globally.  Given the FSOC’s duty to respond to “emerging threats to the stability of the United States financial system,” we request that the FSOC and its member agencies raise this issue at the Financial Stability Board and at the upcoming EU-U.S. regulatory dialogue.

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Submitted To

Secretary of the Treasury and Members of the Financial Stability Oversight Council

Submitted By

SIFMA and The Clearing House

Committee

Prudential & Capital

Date

31

October

2017