To comply with changing international privacy requirements, ICI informs its visitors that we use cookies on our web site. ICI only uses cookies to allow subscribers and members to more easily use our site and to record site utilization. No personal or private information is gathered or stored. More details, including how to disable cookies, can be found on our privacy and cookie policy page. If you disable cookies, you will see this message on future visits to our site. Please click the enable button to consent to accepting cookies.
  • ICI Global
  • Independent Director's Council
Sign In  |  Forgot Password?
Advanced | Tips
  • Home
  • Policy Priorities
    • Fund Regulation
    • Retirement Security
    • Trading & Markets
    • Fund Governance
    • Taxes
    • ICI Comment Letters
  • Research & Statistics
    • Industry Research
    • Investor Research
    • Retirement Research
    • Statistics
  • Government Affairs
    • Financial Services
    • Retirement Security
    • Tax
    • Testimony
  • Industry Operations
    • Fund Accounting, Financial Reporting, and Valuation
    • Fund Distribution, Fund Clearance, and Settlement
    • Operations, Transfer Agent Servicing, and Recordkeeping
    • Portfolio Security Operations
    • Resource Centers
    • Technology, Business Continuity, and Information Security
  • News & Media
    • Media Contacts
    • News Releases
    • Blog: ICI Viewpoints
    • Speeches & Commentaries
    • Opinions & Responses
    • Videos
    • Podcasts
  • Publications & Resources
    • Resource Centers
    • Frequently Asked Questions
    • Fact Books
    • Research Publications
    • White Papers
    • Annual Reports
  • Events
    • ICI Events
    • ICI Global Events
    • IDC Events
    • Past Event Highlights
    • Sponsorship Opportunities
    • Event Contacts
  • About ICI
    • Mission & History
    • Board & Leadership
    • Membership
    • Annual Reports
    • ICI Education Foundation
    • Business Continuity
    • Careers
    • Contact Us
  • Fund Regulation
    • Advertising
    • Broker-Dealer & Principal Underwriter Issues
    • CFTC Rule 4.5
    • Compliance
    • Derivatives
    • Disclosure
    • Electronic Delivery
    • Enforcement Actions
    • Fees
    • Financial Stability
    • Fixed-Income Securities
    • Investment Advisers
    • International
    • Municipal Securities
    • Privacy
    • Products
    • Risk Management
    • State Issues
    • Valuation
  • Retirement Security
    • Support of a Defined Contribution System
    • Regulatory Activities
    • Legislation
    • International
    • Plan Type
    • State Issues
    • Current Topics
      • Target Date Funds
      • Money Market Funds
      • Fiduciary Definition
      • E-Delivery
      • Lifetime Income
      • Fee Disclosure
  • Trading & Markets
    • Domestic
    • Global
  • Fund Governance
    • Directors & Fund Governance
    • Corporate Governance
  • Taxes
    • FATCA
    • Foreign Tax Issues
    • Information Reporting
    • Legislation
    • State Tax Issues
    • U.S. Taxation of Mutual Funds & Shareholders
    • 529 Plans
  • ICI Comment Letters

Home Policy Priorities Trading & Markets Domestic

Print this page

Pay Attention to Risk Management, Treasury’s Ryan Tells Conference

The government’s efforts to stabilize the ailing financial markets will not succeed without substantial help from the finance industry, Anthony Ryan, Acting Under Secretary of the Treasury for Domestic Finance, told attendees at ICI’s Equity, Fixed-Income, and Derivatives Markets Conference.

Financial players must pay particular attention to the areas of risk awareness and management, both of which were lacking as sub-prime mortgages began to falter, triggering what has become a global financial crisis, Ryan said. However, he also commended ICI and the fund industry for working around the clock to keep regulators apprised of market developments.

Ryan, a key lieutenant to Treasury Secretary Henry Paulson, said the Treasury and the Fed were “moving into the implementation phase” of the Troubled Asset Recovery Program, after Congress’ passage and President Bush’s signing of the Emergency Economic Stabilization Act. As program funds are allocated to relieve financial institutions of the mortgage-baked securities that are at the heart of the crisis, the government will make every effort to be “very transparent,” so that all market participants can know what’s going on, Ryan said. He also said the Treasury would consider using some of the $700 billion it’s been authorized to spend to help mortgage borrowers who are under water.

The Treasury also wants to establish a permanent “troubled asset response program,” that would “give us the ability to protect and re-capitalize the financial system” in times of crisis, Ryan said. The Treasury has asked Congress for legislation to allow it.

Ryan said he was optimistic that the capital markets would emerge from the current crisis stronger and better-regulated than before it started. “We always find solutions,” he said.

To see Ryan’s remarks, please visit: http://www.ustreas.gov/press/releases/hp1182.htm.


top
  • About ICI
  • About IDC
  • About ICI Global
  • Privacy and Cookie Policy
  • Apply for User Account
  • Business Continuity
  • Contact ICI

Copyright © 2021 by the Investment Company Institute