Written testimony of Hal S. Scott, Nomura Professor and Director of the Program on International Financial Systems, Harvard Law School; Director of the Committee on Capital Markets Regulation, before the Committee on Banking, Housing, and Urban Affairs, United States Senate.

“My testimony will focus on two key aspects of capital and liquidity regulation. The first is a general overview of the effectiveness of capital and liquidity regulations in reducing systemic risk. Secondly, I will discuss the process by which regulators impose capital and liquidity requirements, with a particular focus on Federal Reserve stress testing of financial institutions.”

Read the entire written testimony here.