Tag Archives: Financial Stability Oversight Council

The Federal Reserve Board, the FDIC and OCC released a report to the Congress and the FSOC on the activities and investments that banking entities may engage in.

The calls for housing finance reform have come from just about everywhere—the left, the right, and every type of organization. Now they've come from a council that was created by Dodd-Frank.

Republicans have been trying to chip away at Dodd-Frank almost since the law was enacted nearly six years ago. But lately they have made a more intense push, and they won a victory in the House of Representatives recently.

The decision to remove the "systemically important" designation from MetLife has been viewed as a victory for opponents of Dodd-Frank Wall Street reform. However, they should not be so quick to celebrate, according to Treasury Secretary Jacob Lew.

The court's removal of the SIFI tag is a victory for opponents of the Dodd-Frank Act who claim that the controversial Wall Street reform legislation enables “Too Big to Fail.”

The FSOC has the authority to designate institutions as "systemically important," which opponents say leaves the door open for taxpayer-funded bailouts.

The bills were directed at improving transparency and accountability of the Financial Stability Oversight Council (FSOC), an agency created out of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

One of the major reasons why the financial crisis occurred back in 2008 is that the country was ill-equipped to address risks to the financial system; the regulatory structure could not keep up with the changing U.S. financial marketplace and the country lacked single entity that was accountable for protecting the stability of the entire financial system, Pinschmidt said.

During his testimony this week before the full House Financial Services Committee, U.S. Department of Treasury Secretary Jack Lew stated when asked about GSEs and the conservatorship that the system should be restructured, but the time was not right for the conservatorship to end. Lew was testifying before the House Financial Services Committee on the 2015 Annual Report of the Financial Stability Oversight Council (FSOC).

In its annual report released earlier this week, the Financial Stability Oversight Council (FSOC) recommended that the Federal Housing Finance Agency (FHFA) continue to encourage Fannie Mae and Freddie Mac to spread mortgage credit risk across the private market.