Global Financial Regulation Reform in the Wake of the Crisis
Daniel K. Tarullo, Federal Reserve Board
Peterson Institute for International Economics, Washington, DC
June 8, 2009
Federal Reserve Board member Daniel K. Tarullo discussed global financial regulation reform in the wake of the global financial crisis at the Institute on June 8, 2009. The topic is extremely timely, as policymakers around the world debate proposals to address regulatory shortcomings that contributed to the current global financial and economic crisis. Tarullo's speech at the Institute was his first major presentation since President Obama appointed him to the Federal Reserve Board.
Tarullo previously addressed this issue at the October 2008 release meeting for his book published by the Institute, Banking on Basel: The Future of International Financial Regulation. This study was the culmination of a two-year examination of the adequacy of reforms undertaken under the 2004 Revised Framework on International Convergence of Capital Measurement and Capital Standards (the Basel II accord).
Tarullo took office at the Federal Reserve on January 28, 2009, to fill an unexpired term ending January 31, 2022. Prior to his appointment to the Board, he was a professor of law at Georgetown University Law Center, where he taught courses in international financial regulation, international law, and banking law. Before joining the Georgetown Law faculty, Tarullo held several senior positions in the Clinton administration, including assistant to the President for international economic policy and assistant secretary of state for economic and business affairs. He was President Clinton’s sherpa for the G-7/G-8 summit of leaders of industrialized nations.