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ARTICLE · 11 MAY 2023

FSOC Sets The Stage For New Designations By Issuing Two Proposals

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On April 21, 2023, the Financial Stability Oversight Council ("FSOC" or the "Council") voted unanimously to issue for public comment two proposals...

United StatesFinance and Banking
Andrew Olmem
Andrew Olmem
Matthew Bisanz
Matthew Bisanz
Jeffrey Taft
Jeffrey Taft
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On April 21, 2023, the Financial Stability Oversight Council ("FSOC" or the "Council") voted unanimously to issue for public comment two proposals: (1) a framework that describes how the FSOC intends to identify, assess, and respond to potential risks to financial stability ("Analytic Framework"); and (2) new interpretive guidance on the FSOC's procedures for designating nonbank financial companies for supervision and enhanced prudential regulation by the Board of Governors of the Federal Reserve System ("Federal Reserve") ("Proposed Guidance").1

The Dodd-Frank Act authorized the FSOC, with a two-thirds vote, to designate nonbank financial companies that could pose a threat to the financial stability of the United States for supervision and enhanced prudential regulation by the Federal Reserve. In issuing the Analytic Framework and Proposed Guidance, the FSOC aims to simplify its decision-making process and make it easier for it to designate companies. Comments on

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