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Washington, D.C. – Today, the House Agriculture Committee held a hearing examining the regulation of derivative clearinghouses and how cleared markets may respond to a future financial crisis. Chairman K. Michael Conaway (TX-11) made the following remarks after the hearing:
| “Clearinghouses are essential to financial markets. As the committee continues its oversight of these institutions, it is essential to understand their role in the well-being of our financial markets, and the new risks a financial crisis could pose. We must ensure clearinghouses work efficiently and effectively for market participants, while reducing systemic risks to our financial markets.” |
Written testimony provided by the witnesses from today’s hearing is linked below. Click here for more information, including Chairman Conaway's opening statement and the archived webcast.
Witness List:
Panel I
Mr. Robert Steigerwald, Senior Policy Advisor, Financial Markets Group, Federal Reserve Bank of Chicago, Chicago, IL
Mr. Scott A. Hill, Chief Financial Officer, Intercontinental Exchange, Atlanta, GA
Mr. Jerrold E. Salzman, Of Counsel, Skadden, Arps, Slate, Meagher & Flom, Chicago, IL, on behalf of CME Group
Mr. John Dabbs, Global Head of Prime Derivatives, Credit Suisse, Washington, DC
Mr. Amias Moore Gerety, Special Advisor at QED Investors, Former Assistant Secretary for Financial Institutions - U.S. Treasury Department, Washington DC
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