国际英语新闻:Obama urges more ways to prevent excessive risk-taking

WASHINGTON, Oct. 6 (Xinhua) -- President Barack Obama urged U.S. financial regulators to consider more ways to prevent excessive risk-taking in the financial sector in a meeting Monday morning at the White House.

"The president acknowledged the collaborative work of the regulators, specifically recognizing their work in finalizing the Volcker Rule, and also urged participants to consider additional ways to prevent excessive risk-taking across the financial system, including as they continue to work on compensation rules and capital standards," the White House said in a readout of the meeting.

Obama also noted the leadership of U.S. banking regulators in raising capital standards and urged regulators to maintain focus on ensuring that prudent capital cushions are in place, particularly for the largest, most complex global firms, to provide further protection for the U.S. financial system, said the White House.

The meeting was attended by more than a dozen high-ranking officials, including Federal Reserve Chair Janet Yellen, Treasury Secretary Jack Lew, Securities and Exchange Commission Chair Mary Jo White, and Obama's National Economic Council Director Jeff Zients.

Participants discussed the importance of continued coordination through the Financial Stability Oversight Council to "identify and mitigate risks to the financial system and address areas of overlap or gaps in oversight," the White House said.

Obama also asked regulators to evaluate where their agencies' actions have been most effective and where standards could be " tailored for the size and complexity of different institutions".

U.S. financial regulators are still finalizing rules required by the Wall Street Reform and Consumer Protection Act, also known as the Dodd-Frank Act, enacted in 2010 to further strengthen the U. S. financial system after the recent global financial crisis. Some firms in the Wall Street and Republicans have complained that certain rules would largely increase the compliance costs of financial institutions and hurt the U.S. economy.