New York Fed: Basel and the Wider Financial Stability Agenda
Basel and the Wider Financial Stability Agenda, October 10, 2010, William C. Dudley, President and Chief Executive Officer. Remarks at the 2010 Institute of International Finance Annual Membership Meeting, Washington, D.C."Over the past year, important new regulatory initiatives have been advanced both at the national and international level. These include the recent agreement in Basel on stronger capital and liquidity standards for internationally active banks and the considerable regulatory changes embodied in the Dodd-Frank Act (DFA). Today I want to discuss some of these initiatives, with a special focus on the recent agreement in Basel on capital and liquidity for large, internationally active banks. I will give my perspective on how these efforts have been informed by the lessons of the financial crisis and discuss what some of the likely consequences may be as these measures are put in place.