- President’s Working Group on Financial Markets released a set of comprehensive recommendations designed to stabilize the current turmoil in the financial markets, including the following key recommendations:
- Reform of the mortgage origination process.
- Improve investors’ contribution to market discipline.
- Reform the credit rating processes and practices regarding structured credit and other securitized credit products.
- Strengthen global financial institutions’ risk management practices.
- Enhance prudential regulatory policies.
- Enhance the OTC derivatives market infrastructure.
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