Core Principles for Regulating the United States Financial System
Treasury Must Report on United States Financial Regulation Principles
What it does
The Secretary of the Treasury must consult financial regulators and report to the President within 120 days on how current laws and policies align with the Core Principles.
Real-world impact
- Requires the Treasury to deliver a report to the President within 120 days.
- Directs identification of laws, regulations, and policies that inhibit applying the Core Principles.
- Emphasizes goals like preventing taxpayer-funded bailouts and promoting market competitiveness.
Topics
Summary
This order sets seven Core Principles to guide how the United States financial system is regulated, including preventing taxpayer-funded bailouts, promoting economic growth, and making regulation efficient and accountable. It directs the Secretary of the Treasury to consult financial regulators and report to the President within 120 days (and periodically after) on how current laws, rules, and policies promote or hinder these principles. The order affects federal regulators, financial firms, and the public by guiding review of existing rules.
Questions, answered
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