In calibrating regulations, federal agencies must avoid the temptation to create a zero risk financial system which would result in what others have called the stability of the graveyard. FSOC should aim to identify vulnerabilities that could lead to systemic crises and encourage the private sector to mitigate those risks before recommending additional regulation. FSOC should also work with its members to support efforts to avoid or pare back existing regulations that stifles pro growth lending, capital formation and innovation. (07:22–07:34)
CLAIM
Asserts that FSOC should identify systemic vulnerabilities and encourage private sector mitigation before regulation.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
