Tabs

Bank/Thrift Supervision   |    Capital    |    CFPB    |    Deposit Insurance    |    Interchange    |    Mortgage Finance
Municipal Advisors   |    OCC-OTS Merger   |    Preemption    |    QM - QRM    |    Swaps   |    Volcker Rule    |    Full Topics List
 
Qualified Mortgage - Qualified Residential Mortgage
Swaps
Consumer Financial Protection Bureau - CFPB
Bank/Thrift Holding Company Supervision
Capital
Deposit Insurance
Interchange
Mortgage Finance
Municipal Advisors
OCC-OTS Merger
Preemption
Volcker Rule
Corporate Governance
Financial Stability Oversight Council (FSOC)
Appraisals
Office of Financial Research (OFR)
Systemic Risk
Supervision and Oversight
Payment, Clearing and Settlement
Prudential Supervision
Trust & Securities
Asset-Backed Securities
Resolution Authority

Thursday, March 22, 2012

CFTC Request Budget Increase to Implement Dodd-Frank

CFTC Chairman Gary Gensler testified before the US Senate Appropriations Subcommittee on Financial Services and General Government regarding the CFTC’s FY 2012 budget request.

The CFTC is requesting significantly more resources from the FY 2012 budget, requesting an appropriation of $308 million and 1,015 full time employees. This is approximately a 50% increase in funding and a 43% increase in staff.

Gensler testified the increase is necessary due to the demands placed on the CFTC by the Dodd-Frank Act. The Dodd-Frank Act mandates that the CFTC begin regulating the swaps market and to continue to regulate the growing futures market.
Effectively overseeing these markets depends on adequate funding for the agency’s expanded mission
Read Gensler’s full testimony.

No comments:

Post a Comment

Please read our comment policy before making a comment.