SIFMA testifies on impact of Dodd-Frank Act on credit

10 July 2012

IFMA's Kenneth E Bentsen, Jr, executive vice president, public policy and advocacy, testified before the House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises to discuss the impact of certain provisions of Dodd-Frank and their impact on credit availability.

“It is essential that US regulatory agencies, in proposing regulations, consider and analyse both the individual aspects and combined impact of proposed rules that may place US financial markets at an unwarranted competitive disadvantage compared to those countries that have not implemented a comparable approach”, said Bentsen. “We urge US regulators to consider and address the interplay among reforms in the context of considering individual reforms.”

In testimony, Bentsen focused on the implementation of the Volcker Rule, Credit Risk Retention, Title VII (derivatives) and Section 165(e) Single Counterparty Credit Limits.

Full press release

Full testimony

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