Working Group on Economic Policy: WP13106

This is a written version of remarks given at the Financial Markets Conference at the Federal Reserve Bank of Atlanta. It discusses three interrelated proposals to bolster and maintain financial stability: Reforming the rules of bankruptcy to handle larger financial institutions with minimal disruption, putting aside plans for temporary countercyclical capital buffers in favor of
setting permanent, appropriate capital and subordinated debt ratios, and moving back to a more rules-based monetary policy.

Read the transcript.