FSOC Recommends Additional Steps To Ensure U.S. Financial Stability

In a 2018 Annual Report, the Financial Stability Oversight Council ("FSOC") recommended that financial regulatory agencies take additional steps to ensure U.S. financial stability.

In the Report, the FSOC made the following observations and recommendations:

• Cybersecurity: The FSOC supported efforts by regulators to harmonize cybersecurity examinations and continue collaboration between the private and public sectors to understand and detect cyber threats.
• Central Counterparties: The FSOC encouraged regulators to (i) evaluate the effectiveness of current rules and standards for central counterparties ("CCPs") and clearing members, (ii) work with international standard-setting bodies to study and evaluate CCP activities, and (iii) continue evaluating the performance of CCPs under stress scenarios.