Statement of FIA President and CEO Walt Lukken on the unanimous vote of House Financial Services Committee in passing H.R. 5749, the "Options Market Stability Act."
“FIA thanks Reps. Hultgren and Foster for their hard work to craft bipartisan compromise for moving forward important changes to proper capital treatment of the cleared options market. Today’s compromise will lead the way for federal banking regulators to assess the risk of cleared options. FIA thanks Ranking Member Waters, Chairman Hensarling and all members of the committee who voted on this important legislation.”
“FIA also urges the full House of Representatives to take up H.R. 4659 to properly calibrate the capital charges contained in the Supplementary Leverage Ratio (SLR) for clearing services that was advanced out of the House Financial Services Committee in March with bipartisan support. FIA believes that financial institutions need to hold sufficient capital to withstand losses and to account for unforeseen events. However, right now companies are being penalized for making the financial system more safe and more stable with clearing.”