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Financial Stability Oversight Council to Hold First Meeting

Tomorrow, Friday, October 1, Treasury Secretary Tim Geithner will host the Financial Stability Oversight Council's first meeting at the U.S. Department of the Treasury. Geithner is the chairperson of the Council.


The meeting will include both a closed session and an open session, the closed session beginning at 1:30 p.m. EDT and the open session beginning at 2:30 p.m. EDT.

The open session will be streamed live on the Treasury Department ""Web site."":http://www.ustreas.gov/ Each voting member will have the opportunity to deliver opening remarks during the session, and the Council will vote on resolutions to advance implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

The Act, which was signed in to law this past summer, established the Council. The Council will provide comprehensive oversight over the stability of the nation's financial system and is charged with identifying threats to the financial stability of the United States.

In addition to Geithner, Sheila Bair, chairman of the Federal Deposit Insurance Corporation; Ben Bernanke, chairman of the board of governors of the Federal Reserve System; and other federal and state regulators will be in attendance.

About Author: Joy Leopold


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