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November 3, 2022

Better Markets Congratulates Tim Clark on Being Named to the FDIC’s Systemic Resolution Advisory Committee (SRAC)

WASHINGTON, D.C.— Better Markets congratulates Tim Clark, the organization’s Distinguished Senior Banking Adviser, on his appointment to the Federal Deposit Insurance Corporation’s (FDIC’s) Systemic Resolution Advisory Committee (SRAC). The Committee provides advice and recommendations on a broad range of issues regarding the resolution of systemically important financial companies.

“Tim’s 23 years of experience at the Federal Reserve and deep expertise in banking regulation, supervision and oversight make him a clear and excellent choice to join the SRAC,” said Dennis M. Kelleher, Better Markets Co-founder, President, and CEO. “At Better Markets, Tim has been key to our work for more than three years regarding banking regulation, particularly bank resolution, supervisory activities, analysis of Dodd-Frank reforms, and developing approaches to emerging issues and risks.  At the Fed, where he was Deputy Director of the Division of Supervision and Regulation, Tim was a crucial voice on virtually all decisions regarding bank oversight, with special attention on too-big-to-fail banks and systemically important banks. He will bring this expertise to the SRAC, which has played an important role in the fight to end too-big-to-fail.  We applaud FDIC Acting Chair Martin Gruenberg’s leadership in reviving the SRAC and bringing attention to the critical issue of bank resolution.”

Tim Clark joined Better Markets in 2019, after a 23-year career at the Federal Reserve.  He joined the Fed in 1995 as a bank examiner in New York and moved up the ranks there until 2008, when he was recruited to join the staff of the Board of Governors in Washington. Mr. Clark also was Chairman of the Operating Committee of the Federal Reserves’ Large Institution Supervision Coordinating Committee (LISCC), which was created after the crash to coordinate oversight of the biggest, riskiest banks.

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Better Markets is a non-profit, non-partisan, and independent organization founded to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again. Better Markets works with allies—including many in finance—to promote pro-market, pro-business and pro-growth policies that help build a stronger, safer financial system that protects and promotes Americans’ jobs, savings, retirements and more. To learn more, visit www.bettermarkets.org.

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