Audit of the Financial Stability Oversight Council's Designation of Financial Market Utilities: Report to the Financial Stability Oversight Council and the Congress: July 2013 - Softcover

The Council Of Inspectors General On Financial Oversight

 
9781503369337: Audit of the Financial Stability Oversight Council's Designation of Financial Market Utilities: Report to the Financial Stability Oversight Council and the Congress: July 2013

Inhaltsangabe

The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) created a comprehensive regulatory and resolution framework designed to reduce the severe economic consequences of economic instability. The Financial Stability Oversight Council (FSOC or the Council), established by the Dodd-Frank Act, is charged with identifying risks to the nation’s financial stability, promoting market discipline, and responding to emerging threats to the stability of the nation’s financial system. Title VIII of the Dodd-Frank Act–Payment, Clearing, and Settlement Supervision (Title VIII), authorizes FSOC to designate financial market utilities (FMUs) as “systemically important” if FSOC determines that the failure or a disruption to the functioning of the FMU could create or increase the risk of significant liquidity or credit problems spreading among financial institutions or markets and thereby threaten the stability of the U.S. financial system.

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