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Yellen underscores importance of financial regulation cooperation in call with EU official

Published 03/16/2021, 03:32 PM
Updated 03/16/2021, 03:35 PM
© Reuters. FILE PHOTO: Yellen holds a news conference in Washington

WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen discussed the importance of close transatlantic financial regulatory cooperation in a phone call with the European Union's finance services chief, Mairead McGuinness, on Tuesday, Treasury said in a statement.

In the call, Yellen emphasized the importance of the transatlantic partnership and conveyed her intention to deepen U.S.-European cooperation on issues such as ending the COVID-19 pandemic, supporting a strong global economic recovery, fighting income inequality, and combating climate change, Treasury said.

© Reuters. FILE PHOTO: Yellen holds a news conference in Washington

She also discussed the importance of "close transatlantic financial regulatory cooperation in promoting the safety and soundness of our respective financial systems and reducing regulatory frictions," the statement said.

Latest comments

History has shown how financial regulations for the purpose of promoting the safety and soundness of our financial systems benefits the big guys by squeezing out the little guys. More bureaucrats making themselves appear useful.
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