The MIT Center for Finance and Policy hosted its first crowd-sourced contest launched to generate new proposals to specify sets of criteria that regulators should apply to designate a financial institution.
“The financial crisis of 2008 brought vastly increased attention by regulators to risk spillovers in the financial sector that could cause systemic problems. As part of addressing systemic risk, financial regulators have been tasked with identifying Systemically Important Financial Institutions (SIFIs). Institutions designated as SIFIs are subject to additional oversight and regulation.”
For a more detailed synopsis on the contest and it’s submissions you may read more by clicking HERE.