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FSOC Revived: U.S. Financial Stability Oversight Council Finalizes Framework for Future Action | Insights | Sidley Austin LLP

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On November 3, 2023, the U.S. Financial Stability Oversight Council (FSOC) issued a final analytic framework for assessing financial stability risks (the Framework) and final interpretive guidance regarding FSOC’s procedures for designating nonbank financial companies as systemically important (the Guidance, and together with the Framework, the Final Guidance).1 Companies designated as systemically important become subject to supervision by the Board of Governors of the Federal Reserve System (Federal Reserve). FSOC initially issued proposed versions of these documents for public comment in April 2023, and the Final Guidance is broadly consistent with these earlier proposals. Taken together with the speed with which FSOC moved from initial proposal to the Final Guidance, the minimization of changes may suggest that FSOC members and staff already have a sense of the types of nonbank financial companies that they believe pose systemic risks and intend to move rapidly with a regulatory r

FSOC Revived: U.S. Financial Stability Oversight Council Finalizes Framework for Future Action | Insights | Sidley Austin LLP Banking and Financial Services Update FSOC Revived: U.S. Financial Stability Oversight Council Finalizes Framework for Future Action November 16, 2023 Share PDF letter PDF A4 On November 3, 2023, the U.S. Financial Stability Oversight Council (FSOC) issued a final analytic framework for assessing financial stability risks (the Framework) and final interpretive guidance regarding FSOC's procedures for designating nonbank financial companies as systemically important (the

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