Fed wants right to choose which nonbanks pose systemic threat
The Federal Reserve on Tuesday proposed that it be given a measure of discretionary power to identify which nonbank firms posed a threat to the financial system if they were to fail.
The Dodd-Frank Act, which was passed into law last July, gives the Financial Stability Oversight Council (FSoC), the United States' macroprudential oversight body, the power to oversee significant nonbank holding companies that are "predominantly engaged in financial activities".
The rule proposed by the Fed on
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Most read
- Supervisors grapple with the smaller bank dilemma
- Fed policy-makers disagree over risks
- Schnabel: ECB could replace central forecast scenario