Financial Stability Oversight Council

News & Analysis as of

Capital Thinking: Financial Services

LEGISLATIVE ACTIVITY - GAO expected to release Report on Big Banks - On Thursday, July 31, the Government Accountability Office (GAO) is expected to release a long awaited report on funding advantages of the...more

Commissioner Piwowar Slams “Dodd-Frank Politburo” for Overstepping Authority

In a speech on July 15, 2014, SEC Commissioner Michael S. Piwowar expressed his views about the Financial Stability Oversight Council (FSOC) operating in secrecy as it tries to expand its regulation of financial institutions...more

FSOC = Firing Squad On Capitalism Says SEC Commissioner

Speaking at a conference, SEC Commissioner Michael S. Piwowar’s opening remarks included “In preparing for this speech, I thought a lot about what moniker I could use to best describe the [Financial Oversight Stability...more

Mutual Funds Get Congressional Help Against FSOC

Some members of Congress have come to the aid of the investment management industry in its battle to avoid determinations by the Financial Stability Oversight Council (FSOC) that any mutual funds or investment advisers...more

Capital Thinking: Financial Services

LEGISLATIVE ACTIVITY - House To Vote On CFTC Reauthorization Bill - This week, the House is expected to debate and vote on the reauthorization of the Commodity Futures Trading Commission (CFTC) through September...more

Fed Proposes Concentration Limits for Financial Institution M&A

The Federal Reserve Board has issued a proposed rulemaking that would implement Section 622 of the Dodd-Frank Act, which prohibits a financial company from combining with another company if the ratio of the resulting...more

Private Fund Update - June 2014

In this issue: - The 113th Congress - The Administration - Securities and Exchange Commission - Association for Corporate Growth (ACG) - Private Equity Growth Capital Council (PEGCC)...more

The Shadow: What’s in a Name – The Malifiscence of Shadow Banking

Long ago and far away, a radio show gave birth to the catchphrase “Who know what evil lurks in the hearts and minds of men? The Shadow knows.” I think, although I’m not entirely certain at this point, that the Shadow was a...more

Private Fund Update - May 2014

In this issue: - The 113th Congress - The Administration - Securities and Exchange Commission - Association for Corporate Growth (ACG) - Small Business Investor Alliance (SBIA) -...more

FIO Focus, Issue No. 52

Treasury's Inspector General Releases Audit Report for the Federal Insurance Office - On May 14, 2014, the Office of the Inspector General (OIG) of the U.S. Department of the Treasury released its audit report of the...more

Financial Stability Oversight Council’s Annual Report Highlights Problems with Non-Bank Mortgage Servicers

As required by Section 112(b)(2) of the Dodd-Frank Act, the Financial Stability Oversight Council released its 2014 Annual Report, which included, among other things, recommendations to address the risks posed by nonbank...more

Federal Reserve Board Proposes Liability Concentration Limit

On May 8, the Federal Reserve Board released a proposed rule that would prohibit certain financial companies from combining with another company if the resulting financial company’s liabilities would exceed 10% of the...more

The Financial Report - Volume 3, No. 10 • May 2014 (Global)

News from the Americas - High-speed trading. Bloomberg discussed US Senate Agriculture Committee hearings on high-speed trading. Former CFTC economist Andrei Kirilenko said that new books and records requirements and...more

FSOC Annual Report Calls For Heightened Scrutiny Of Nonbank Mortgage Servicers

On May 7, following a short open meeting, the Financial Stability Oversight Council (FSOC)—the body established by the Dodd-Frank Act to identify and respond to risks to the stability of the U.S. financial system—released its...more

Key issues for asset managers in 2014

In this newsletter - U.S.: - Dodd-Frank Act – Designation of asset managers as systemically important financial institutions - Volcker Rule finalised with a more limited application to covered fund activities...more

SEC Proposes Enhanced Regulatory Framework for Certain Registered Clearing Agencies

The proposal is consistent with international recommendations and Basel III criteria. On March 12, the Securities and Exchange Commission (SEC) proposed new rules and rule amendments (the Proposal) that would enhance...more

FIO Focus, Issue No. 48

Congressional Hearing on Capital Requirements for Insurers Subject to Federal Reserve Regulation On March 11, 2014, the Subcommittee on Financial Institutions and Consumer Protection of the U.S. Senate Committee on...more

Federal Reserve Board Finalizes Enhanced Prudential Standards For Large Bank Holding Companies, Foreign Banks

On February 18, the Federal Reserve Board issued a final rule that incorporates elements of two previously proposed rules related to U.S. bank holding companies with assets of $50 billion or more and foreign banking...more

Despite the Best of Intentions, Paving the Way for the Next Financial Meltdown Part II: Getting Ready

As discussed in Part I of our Client Alert, “Despite the Best of Intentions, Paving the Way for the Next Financial Meltdown,” dated August 22, 2013, the Financial Stability Board (FSB) is studying the application of the key...more

Private Fund Update - February 18, 2014

In this issue: - The 113th Congress - Securities and Exchange Commission - Commodity Futures Trading Commission (CFTC) - The Administration - Congressional Budget Office (CBO) - Small...more

Capital Thinking: Financial Services

This Week’s Hearings: - Tuesday, February 11: The House Financial Services Committee will hold a hearing titled, “Monetary Policy and the State of the Economy.” The Honorable Janet Yellen will testify at the hearing for...more

Five Senators Slam OFR Asset Management and Financial Stability Report

In a stinging letter to Treasury Secretary Jacob J. Lew, five Senators criticized the study by the Office of Financial Research (OFR), Asset Management and Financial Stability, alleging that the study contained “troubling...more

Federal Reserve Board Seeks Comment On Designated Utilities’ Risk Management Standards, Payment System Risk Policy

On January 10, the Federal Reserve Board proposed revisions to the Regulation HH risk-management standards for certain financial market utilities that have been designated as systemically important by the Financial Stability...more

SEC Commissioner Gallagher and Money Fund Capital Requirements

The question of capital requirements and how to best backstop money market funds has lingered since the Primary Reserve Fund became the first to “break the buck” at the outset of the market crisis. The SEC initially...more

OFR Releases Interagency Data Inventory

The Office of Financial Research, or OFR, has released the Interagency Data Inventory of data that member agencies of the Financial Stability Oversight Council collect from industry. The Interagency Data Inventory project is...more

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