Fed wants right to choose which nonbanks pose systemic threat

federal reserve

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 Tues

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: