Washington, D.C., April 4, 2016 - The Institute of International Finance today released the following statement from President and CEO Timothy Adams ahead of the Minneapolis Federal Reserve's Symposium on Ending Too Big to Fail.

"Today's financial system is safer, sounder and more robust than what existed prior to the financial crisis. Globally, banks have raised over $1 trillion in new capital, they have more liquidity, and they have significantly reduced leverage. Banks also now submit "living wills" to regulators and undergo annual stress tests.' New resolution procedures and loss-absorbing capacity give assurances that investors, not the public, will bear the costs of any' potential' future' failures.' Through the combined efforts of the industry and global regulators, we now have the tools in place to ensure that no financial institution is too big to fail. While we appreciate Mr. Kashkari's focus on ensuring a safe and sound financial system, he should better understand the full scope of what has been accomplished over the last eight years."

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The Institute of International Finance is the global association of the financial industry, with close to 500 members from 70 countries. Its mission is to support the financial industry in the prudent management of risks; to develop sound industry practices; and to advocate for regulatory, financial and economic policies that are in the broad interests of its members and foster global financial stability and sustainable economic growth. IIF members include commercial and investment banks, asset managers, insurance companies, sovereign wealth funds, hedge funds, central banks and development banks. For more information visit www.iif.com.'