Former SEC Chairman Levitt: Ban SIVs

Former SEC Chairman Arthur Levitt will tell the House Committee on Financial Services today that it would be helpful to ban SIVs. In his prepared remarks, Levitt says:

Clearly, a series of other rules – banning the use of off-balance sheet vehicles, to name just one – would move information about major institutions into the public sphere, making it possible for market participants to price risk appropriately and for a systemic risk regulator to demand fresh infusions of liquidity or higher margin requirements if needed.

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