Now the MRAC must begin work on determining and analyzing the risks to our markets and consumers, in order to provide consultation on how best to address them. I am confident that the Commission will benefit from the recommendations of this Committee.The list is full of financial heavy hitters in the risk community and includes C-level representatives from academia as well as Goldman Sachs, Morgan Stanley, JP Morgan, the Federal Reserve Bank of New York, BlackRock, Cargill, and the Committee of Chief Risk Officers, to name a few. In total, as of today, there are 31 people on the Committee.
First chartered in 2014 the goal of the committee is to "detect and mitigate risks within the market to industry participants, consumers, and the broader financial community." For the current year the Committee plans on studying long-standing and nascent risks to the markets, in particular the swaps and futures market.
You can stay informed of upcoming reports and public meetings of MRAC by visiting TheGAFI.com.
For the original press release click here. For a link to the list of members click here.