Thunderhawk: OFFICIAL FAMILY: FROM THE US DEPARTMENT OF TREASURY…
BACKDOC: YES. THE GOAL OF A MORE ROBUST AND RESILIENT SYSTEM NEEDED TO BE IN PLACE IS RIGHT. NOW WE SEE EVIDENCE OF THAT SYSTEM COMING FORTH DAILY.
SOON WE WILL SEE BLACK GOLD MAKE ITS TRANSITION FROM BEING PEGGED TO THE PETRO DOLLAR TO BEING PEGGED TO THE SDR.
PERFECT! THE UNIVERSAL CURRENCY BEING STABILIZED BY THE SDR BASKET OF CURRENCIES COMMONLY KNOWN AS THE ONE WORLD CURRENCY!
THIS SDR BASKET AS YOU KNOW CAN CREATE ITS OWN CURRENCY CALLED SDR BONDS WHICH CURRENTLY ARE USED TO HELP COUNTRIES THAT ARE IN FINANCIAL DISTRESS.
IN THE FUTURE, THE SDR MAY BE PRINTED FOR GLOBAL PUBLIC USE AND IS SLATED TO BE CALLED THE BANCOR! THIS TRANSITION TO A PRINTABLE CURRENCY MAY BE SOME TIME OFF. 8@8, DOC IMO
A Closer Look at Under Secretary Sheets’s Remarks at the Institute of International and European Affairs
By: Kay Turner 12/7/2016
During an event hosted by the Institute of International and European Affairs, Under Secretary for International Affairs Nathan Sheets gave remarks that reviewed the significant steps taken since the global financial crisis to enhance the resilience of markets and strengthen financial institution balance sheets. He discussed the G-20’s financial regulatory achievements and priorities, and the importance of U.S.-EU cooperation in these areas.
Under Secretary Sheets highlighted important steps G-20 members have taken to foster a more resilient financial system and how these reforms are already making the financial system safer. “These steps greatly reduce the risk of systemic crises while ameliorating the possible consequences of such crises, thus allowing banks to continue to play a critical role in intermediating credit for the real economy.”
Under Secretary Sheets explained that “G-20 and Basel Committee members have made important strides under Basel III to improve both the quantity and quality of capital for internationally active banks and introduced internationally consistent leverage and liquidity ratios.” He underscored that the current priority is to finalize the Basel III framework in order to ensure a level playing field among banks and eliminate differences that might threaten to undermine market confidence in the adequacy of bank capital.
On bank resolution, Under Secretary Sheets explained that the “task now is to ensure that the necessary components are in place, and properly operationalized, to enable a systemically important financial institution to be resolved in an orderly manner.” Part of the operationalization was the FSB’s finalization of its total loss absorbing capacity (TLAC) standard in November 2015 — an important milestone for establishing a framework that allows for the resolution of global systemically important banks.
He indicated that the Bank of England has already written its rules, the Federal Reserve plans to finalize its own rules this year, and a European Commission proposal is expected soon.
Outside the banking sector, the Under Secretary stressed that the G-20 and FSB are working to promote consistent and robust frameworks for sustainable market-based finance. He added that the G-20 Leaders set out a comprehensive approach to promote clearing, trading, and reporting of over-the-counter (OTC) derivatives contracts to address risks exposed during the global financial crisis.
He encouraged all jurisdictions to move promptly to implement these measures.
Turning to U.S.-EU financial regulatory cooperation, Under Secretary Sheets highlighted the importance of core reforms to the United States and Europe.
He noted that the large size and interconnectedness of trans-Atlantic markets demonstrates why it is necessary for the two sides to cooperate closely and provide global leadership on financial regulatory reform. He added that “our shared interest is in maintaining open, integrated, and well-functioning global markets.”
Under Secretary Sheets concluded his remarks by noting that the ultimate goal of Treasury’s efforts is a more robust and resilient financial system: “We need to continue to strive for an efficient, globally-integrated, and inclusive financial system that fosters economic growth and financial stability.”
https://www.treasury.gov/connect/blog/Pages/A-Closer-Look-at-Under-Secretary-Sheets%E2%80%99s-Remarks-at-the-Institute-of-International-and-European-Affairs.aspx
