Thursday, September 24, 2009
Former SEC Chairman Levitt: Ban SIVs
Former SEC Chairman Arthur Levitt will tell the House Committee on Financial Services today that it would be helpful to ban SIVs. In his prepared remarks, Levitt says:
Clearly, a series of other rules - banning the use of off-balance sheet vehicles, to name just one - would move information about major institutions into the public sphere, making it possible for market participants to price risk appropriately and for a systemic risk regulator to demand fresh infusions of liquidity or higher margin requirements if needed.
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