The report notes that significant progress has been made in many areas. The PWG does not believe that there is a need for additional specific recommendations at this time.
The President's Working Group on Financial Markets issued its policy statement update to report on implementation of its March 2008 policy recommendations to improve the state of U.S. and global financial markets.
The report notes that significant progress has been made in areas such as reforming the mortgage origination process, strengthening financial institutions' risk management practices, and enhancing supervisory policies.
The report includes six sections describing progress towards implementing the recommendations:
- Reforms to the mortgage origination process
- Improvements to investors' contributions to market discipline
- Reforms to rating agencies' processes and practices for securitized and structured products
- Strengthening of global financial institutions' risk management practices
- Enhancements to prudential regulatory policies
- Enhancements to the infrastructure for OTC derivatives markets
The PWG does not believe that there is a need for additional specific recommendations at this time.
Q4 Progress Update
Press release
© US Treasury
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