← Back to News

Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, in support of the Swaps Push-Out Provision in the Omnibus Appropriations Bill

“Financial services is our leading economic driver, employing 500,000 New Yorkers and generating $198 billion in annual economic output. The continued strength of this industry and New York City’s position as the global financial capital  depends on clear and consistent laws and regulations that allow our financial institutions to compete effectively. This provision is necessary to ensure that regulation of derivative trading activity of US institutions is appropriate and practical. It merits bipartisan support from the New York Congressional delegation.”

***

About the Partnership for New York City:

The Partnership for New York City’s mission is to engage the business community in efforts to advance the economy of New York City and maintain the city’s position as the center of world commerce, finance and innovation. Through the Partnership Fund for New York City, the Partnership contributes directly to projects that create jobs, improve economically distressed communities and stimulate new business creation.