Guiding Principles

The FSIC:

• Recognizes the need for prudential standards that ensure a stronger and more resilient financial system;
• Recognizes that sound risk management practices, both at the individual firm level and at the systemic level, are a key to maintaining a stronger and more resilient financial system;
• Believes that prudential standards should be designed to avoid unintended consequences to the ability of the financial services industry to serve consumers, contribute to economic growth and job creation, and remain competitive in the global marketplace;
• Believes that the design and implementation of prudential standards will benefit from an open and constructive dialogue between the industry and regulatory agencies, both prior to and after the proposed rules have been issued.