Dec. 13 at 5:40 PM
Treasury Sec outlines plans to rework the way top financial regulatory body monitors the US financial system for risks - part of Trump adminās broader agenda to loosen oversight of financial firms in favor of an approach that it argues promotes growth
Financial Stability Oversight Council, a panel of US regulators formed in the aftermath of the 2008-09 financial crisis, will adopt a new approach to assessing threats to financial stability - will now prioritize economic growth & security and pinpoint ways to ease regulation. That is distinct from earlier approach to evaluating risks, which he argued led to onerous regulation & stymied growth
Better Markets (non-profit that advocates for tighter regs): āHis pretext for this deregulationāthat financial regulation negatively impacts economic growthāis false. Deregulation āresults in narrow, fragile, short term bubble growth, not sustainable, durable, broad-based growth that benefits all Americans
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