Scrap FSOC’s non-bank Sifi regime, Congress told

Designation process criticised at House hearing; senators call for review

Republicans in Congress set to push Dodd-Frank fixes
FSOC has raised the ire of Republicans on Capitol Hill

The US Financial Stability Oversight Council’s (FSOC) power to designate non-banks as systemically important financial institutions, or Sifis, should be abolished or radically overhauled to achieve greater standardisation and transparency.

That was the verdict of a panel of academics and policy experts appearing before an oversight subcommittee hearing of the House Committee on Financial Services in Washington, DC earlier today (March 28).

“I myself doubt there is a need for an FSOC Sifi

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net 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 individual account here