Bernanke Remarks on Maintaining Stability in the Financial System

Today, Federal Reserve Chairman Ben Bernanke addressed efforts being made by the Federal Reserve, other regulators and the industry to reduce systemic risk. In his remarks, Chairman Bernanke outlined three elements that have been a part of the Federal Reserve's efforts to address the conditions in the financial markets today, which include:

1) easing monetary policy;

2) offering liquidity support through a variety of collateralized lending programs;

3) supporting a range of activities and initiatives as financial regulator and supervisor, such as, cooperating with other regulators, working with the private sector to reduce risks, developing new regulations (including new rules to govern mortgage and credit card lending) and applying lessons learned from recent experiences to its supervisory practices.

Chairman Bernanke also discussed the importance of strengthening the financial system infrastructure, both the "hardware" (i.e., execution, clearing and settlement systems) and the "software" (i.e., statutory, regulatory and contractual frameworks and business practices). Chairman Bernanke cited the recent efforts to improve the clearance and settlements processes in the CDS and other OTC derivatives markets.

Click here to read Chairman Ben Bernanke's Remarks

Any member of the Asset Management Group who is interested the above-matters and other pertinent and timely issues, including developments relating to Fannie Mae and Freddie Mac is invited to contact Joseph Sack, Managing Director at SIFMA at 212.313.1165 or at jsack@sifma.org. These and other like developments are addressed through the AMG's Chief Investment Officer Group.

Important Publications:
SIFMA SmartBrief (past five issues)
SIFMA Regulatory Update
SIFMA Washington Weekly