FSB holds too much sway over US regulators, say Republicans

Lew faces questions in Congress over FSB impact on US banks and markets

fsb-gavel
Too much power? Republicans say US regulators defer too much to international bodies like FSB

US regulators are in hock to the Financial Stability Board (FSB), an unelected body that has designated non-banks as systemically important financial institutions (Sifis) without regard to legal requirements for public consultation, congressional Republicans have claimed.

"I'm concerned that US regulators rely – at least in part – on FSB [Sifi] determinations, yet the FSB is not subject to the procedural due process," said California representative Ed Royce, speaking during a hearing of the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

Modernising compliance functions with regtech

Regtech addresses the complexities of regulatory requirements, offering innovative tools to modernise compliance functions, streamline processes and enhance efficiency. This article explores its role in compliance and reporting within the banking sector,…

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here