What is Financial Stability Oversight Council (FSOC)
FSOC is a US federal government organisation entrusted to identify risks to the US financial sector stemming from large banks, financial holding companies and non-bank financial companies.
- identify, monitor, investigate and respond to emerging threats to the financial stability of the US posed by both financial and non-financial companies and organisations
- promote market discipline by monitoring international regulatory proposals and advises the Congress and the Federal Reserve in this respect
- has the authority to collect information from any state or federal financial regulatory agency
- submits a report to Congress describing the state of the U.S.’ financial system
- has the authority to place non-bank financial companies or domestic subsidiaries of international banks under the supervision of the Federal Reserve if they are identified as a threat to the financial stability of the US
- has the authority to issue recommendations to the primary financial regulatory agency, which is then obliged to implement
FSOC Virtual asset related reports
The FSOC does not have a newsletter or a website, and all publications can be tracked on Treasury’s official website.
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