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<p><span>Thank you for the introduction, John [Gulliver], and for letting me be part of the 21</span><span>st</span><span> annual U.S.-China Symposium by the Program on International Financial Systems. The U.S.-China relationship is important to the global capital markets, and I appreciate the participation at this conference by many knowledgeable participants in Sino-American relations, including our distinguished visitors from the People’s Republic of China. </span></p>
<p><span>The Commodity Futures Trading Commission’s Global Markets Advisory Committee (GMAC), sponsored by CFTC Commissioner Caroline D. Pham, advanced two recommendations to examine the impacts of proposed U.S. bank capital requirements and to improve collateral and liquidity management for non-centrally cleared derivatives.</span></p>
<p><span>CFTC Commissioner Caroline D. Pham, sponsor of the Global Markets Advisory Committee (GMAC), announced the agenda for the upcoming GMAC public meeting on Tuesday, June 4, from 10:00 a.m. to 1:00 p.m. EDT at the CFTC’s New York Regional Office.</span></p>