SIFMA Highlights Significance Of Monetary Companies To U.S. Financial system
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In a whitepaper with accompanying charts,
SIFMA highlighted the significance of monetary
companies to the U.S. and international economic system, notably as to the
variety of jobs that such companies create in the USA, each
instantly and not directly. SIFMA argued that it’s “important”
to combine the U.S. monetary companies business into the U.S.
worldwide financial technique.
Among the many info that SIFMA highlighted are:
- the U.S. monetary companies business employs 9 million
individuals and accounts for eight p.c of GDP;
- quite a few monetary companies jobs are created in states different
than New York (together with Florida, Illinois, California and
- the U.S. capital markets account for 41 p.c of world
fairness, 40 p.c of world fastened revenue markets and 72 p.c of
home financial exercise;
- the availability of monetary companies generates a big
commerce surplus for the USA;
- the local weather monetary market in 2018, together with mitigation and
adaptation, was $600 billion; and
- international monetary establishments have invested $760 billion in
U.S.-based operations and make use of employees in each state.
SIFMA additionally argued that:
- “working in worldwide capital markets strengthens
the diversification alternatives for U.S. traders and savers,
and for international holders of U.S. capital”; and
- “U.S. funding abroad has been reciprocated with
vital development in international funding into the U.S.-based
business . . . which helps present further sources of capital
for a variety of companies.”
- SIFMA Press Release: SIFMA Issues Whitepaper on
Need for Integrating U.S. Financial Services into U.S.
International Economic Strategy
- SIFMA Whitepaper: Financial Services and Main
Street – Supporting American Economic Growth and U.S.
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