Large banking institutions should prepare to use better risk controls and to face broader, stricter prudential oversight, attendees at a Securities Industry and Financial Markets Association regulatory conference in Manhattan were told.
The largest and the riskiest banks may also be required to have higher capital ratios, use less leverage in their transactions, and avoid certain business lines, speakers at the event said in describing pending regulation in the banking, brokering and trading sectors.
The event was focused on how the Dodd-Frank Wall Street Reform and Consumer Protection Act, which was signed last July 21, will likely affect businesses ranging from traditional deposit-taking to using cutting-edge technology to trade exotic instruments.
Systemic risk regulation and capital requirements
Davis Polk & Wardwell partner Margaret Tayhar, Covington & Burling partner John C Dugan, Wilson Erwin of Credit Suisse, Steven Strongin of Goldman Sachs and James R Wigand, director
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