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Hearing Entitled: The Annual Report of the Financial Stability Oversight Council
published: 06 Feb 2024
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Treasury's Financial Stability Oversight Council calls for greater crypto oversight
CNBC's Kate Rooney joins 'Closing Bell: Overtime' to report on the the Treasury Department's Financial Stability Oversight Council statements on cryptocurrency risk. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
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Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-sh...
published: 03 Oct 2022
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Hybrid Hearing - The Annual Report of the Financial Stability Oversight Council (EventID=114746)
Connect with the House Financial Services Committee
Get the latest news: https://democrats-financialservices.house.gov/
Follow us on Facebook: https://www.facebook.com/HouseFinancialCmte
Follow us on Twitter: https://twitter.com/FSCDems
___________________________________
On Thursday, May 12, 2022, at 10:00 a.m. (ET) full Committee Chairwoman Waters and Ranking Member McHenry will host a hybrid hearing entitled, “The Annual Report of the Financial Stability Oversight Council."
___________________________________
Witness for this one-panel hearing will be:
• The Honorable Janet Yellen, Secretary, U.S. Department of the Treasury, and Chairperson, Financial Stability Oversight Council (FSOC)
___________________________________
Overview
Pursuant to Section 112(a)(2)(N) of the Dodd-Frank W...
published: 12 May 2022
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Treasury Secretary Yellen presides over Financial Stability Oversight Council meeting — 4/21/23
Treasury Secretary Janet Yellen presides over a meeting of the Financial Stability Oversight Council at the Treasury Department on Friday.
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
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Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
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Get the latest news: http://www.cnbc.com/
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Treasury Secretary Yellen presides over Financial Stability Oversight Council meet...
published: 21 Apr 2023
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062414 - The Annual Report of the Financial Stability Oversight Council (EventID=102406)
Tuesday, June 24, 2014 -- Committee on Financial Services Hearing: The Annual Report of the Financial Stability Oversight Council
published: 22 Sep 2015
-
The Financial Stability Oversight Council Annual Report to Congress
THE COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS will meet in OPEN SESSION, HYBRID FORMAT to conduct a hearing entitled, “The Financial Stability Oversight Council Annual Report to Congress.” The witness will be: The Honorable Janet L. Yellen, Secretary, Department of the Treasury.
Pursuant to guidance from the CDC and OAP, Senate office buildings are not open to the public other than official business visitors and credentialed press at this time. Accordingly, in-person visitors cannot be accommodated at this briefing. We encourage the public to utilize the Committee’s livestream of the hearing, available on the website at http://www.banking.senate.gov.
All hearings are webcast live and will not be available until the hearing starts. Individuals with disabilities who require an auxil...
published: 11 May 2022
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Hensarling Opening Statement at "Oversight of the Financial Stability Oversight Council" hearing
published: 08 Dec 2015
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092216 - “The Annual Report of the Financial Stability Oversight Council” (EventID=105365)
Thursday, September 22, 2016 (10:00 AM) - Committee on Financial Services Hearing: “The Annual Report of the Financial Stability Oversight Council”
published: 22 Sep 2016
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Reed Questions Secretary Yellen during Financial Stability Oversight Council's Annual Report
U.S. Senator Jack Reed questions Treasury Secretary Janet Yellen during the Senate Banking Committee hearing: "The Financial Stability Oversight Council Annual Report to Congress." This hearing was held on Thursday, February 8, 2024.
published: 09 Feb 2024
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Emmer Questions the Financial Stability Oversight Council
On December 8, 2015 Congressman Tom Emmer (MN-06) attended a Financial Services Full Committee Hearing where he questioned nine of the ten voting members of the Financial Stability Oversight Council.
published: 10 Dec 2015
2:27
Treasury's Financial Stability Oversight Council calls for greater crypto oversight
CNBC's Kate Rooney joins 'Closing Bell: Overtime' to report on the the Treasury Department's Financial Stability Oversight Council statements on cryptocurrency ...
CNBC's Kate Rooney joins 'Closing Bell: Overtime' to report on the the Treasury Department's Financial Stability Oversight Council statements on cryptocurrency risk. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-shepard-smith-podcast.html?__source=youtube%7Cshepsmith%7Cpodcast
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https://wn.com/Treasury's_Financial_Stability_Oversight_Council_Calls_For_Greater_Crypto_Oversight
CNBC's Kate Rooney joins 'Closing Bell: Overtime' to report on the the Treasury Department's Financial Stability Oversight Council statements on cryptocurrency risk. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-shepard-smith-podcast.html?__source=youtube%7Cshepsmith%7Cpodcast
Connect with CNBC News Online
Get the latest news: http://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
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- published: 03 Oct 2022
- views: 4430
2:36:06
Hybrid Hearing - The Annual Report of the Financial Stability Oversight Council (EventID=114746)
Connect with the House Financial Services Committee
Get the latest news: https://democrats-financialservices.house.gov/
Follow us on Facebook: https://www.faceb...
Connect with the House Financial Services Committee
Get the latest news: https://democrats-financialservices.house.gov/
Follow us on Facebook: https://www.facebook.com/HouseFinancialCmte
Follow us on Twitter: https://twitter.com/FSCDems
___________________________________
On Thursday, May 12, 2022, at 10:00 a.m. (ET) full Committee Chairwoman Waters and Ranking Member McHenry will host a hybrid hearing entitled, “The Annual Report of the Financial Stability Oversight Council."
___________________________________
Witness for this one-panel hearing will be:
• The Honorable Janet Yellen, Secretary, U.S. Department of the Treasury, and Chairperson, Financial Stability Oversight Council (FSOC)
___________________________________
Overview
Pursuant to Section 112(a)(2)(N) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank), Congress mandates the Financial Stability Oversight Council (FSOC) to submit an annual report to Congress on various issues, including: its activities; significant financial market and regulatory developments; and potential emerging threats to the financial stability of the United States. Pursuant to Section 112(c) of Dodd-Frank, the Chairperson of the FSOC is required to testify before the Committee to discuss the efforts, activities, objectives, and plans of FSOC and discuss and answer questions concerning FSOC’s annual report.
The Dodd-Frank Act established FSOC in the aftermath of the 2008 financial crisis to carry out three primary purposes, which are: “(A) to identify risks to the financial stability of the United States that could arise from the material financial distress or failure, or ongoing activities, of large, interconnected bank holding companies or nonbank financial companies, or that could arise outside the financial services marketplace; (B) to promote market discipline, by eliminating expectations on the part of shareholders, creditors, and counterparties of such companies that the Government will shield them from losses in the event of failure; and (C) to respond to emerging threats to the stability of the United States financial system.”
The FSOC comprises ten voting members – including the Secretary of the Treasury, who serves as FSOC’s Chairperson – and five nonvoting members. The Office of Financial Research (OFR) was established to conduct independent research and support FSOC’s work. While FSOC is empowered to designate nonbank financial companies for enhanced oversight by the Federal Reserve or designate systemically important financial market utilities (SIFMUs), FSOC can generally only recommend—but not compel— member agencies to undertake regulatory changes.
A summary of FSOC’s 2021 annual report and recent activities are described below.
Potential Threats to Financial Stability
According to FSOC’s 2021 annual report, “Regulatory reforms after the 2008 financial crisis strengthened the ability of the financial system to withstand a shock or an economic downturn. However, risks to U.S. financial stability today are elevated compared to before the pandemic… At the onset of the pandemic, the financial crisis in March 2020 has also made some vulnerabilities more salient.” The report identified the following areas of risks and vulnerabilities to financial stability:
Climate-related financial risk. In May 2021, President Biden issued Executive Order 14030, directing the Treasury Secretary to engage with FSOC members on climate-related financial risks and report on the FSOC’s activities. In October 2021, the FSOC issued a detailed report on climate-related financial risk, which found that “Climate change is an emerging threat to the financial stability of the United States.” The report described “physical risks” as economic and financial losses stemming from “harm to people and property arising from acute, climate-related disaster events such as hurricanes, wildfires, floods, and heatwaves as well as longer-term chronic phenomena such as higher average temperatures, changes in precipitation patterns, sea-level rise, and ocean acidification.” The report also described “transition risks,” or “stresses to certain institutions or sectors arising from the shifts in policy, consumer and business sentiment, or technologies associated with the changes necessary to limit climate change.” At its December 2021 meeting, the FSOC voted to establish a Climate-related Financial Risk Committee within the FSOC.
Corporate credit. FSOC noted that the average leverage of non-financial corporations is high relative to historical norms, particularly for the airline, hospitality and leisure, and restaurant sectors. FSOC recommended that member agencies monitor non-financial business leverage, asset valuations, and the financial sector’s ability to manage severe simultaneous losses.
Short-term wholesale funding markets. FSOC highlighted how money...
Hearing page: https://democrats-financialservices.house.gov/events/eventsingle.aspx?EventID=409377
https://wn.com/Hybrid_Hearing_The_Annual_Report_Of_The_Financial_Stability_Oversight_Council_(Eventid_114746)
Connect with the House Financial Services Committee
Get the latest news: https://democrats-financialservices.house.gov/
Follow us on Facebook: https://www.facebook.com/HouseFinancialCmte
Follow us on Twitter: https://twitter.com/FSCDems
___________________________________
On Thursday, May 12, 2022, at 10:00 a.m. (ET) full Committee Chairwoman Waters and Ranking Member McHenry will host a hybrid hearing entitled, “The Annual Report of the Financial Stability Oversight Council."
___________________________________
Witness for this one-panel hearing will be:
• The Honorable Janet Yellen, Secretary, U.S. Department of the Treasury, and Chairperson, Financial Stability Oversight Council (FSOC)
___________________________________
Overview
Pursuant to Section 112(a)(2)(N) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank), Congress mandates the Financial Stability Oversight Council (FSOC) to submit an annual report to Congress on various issues, including: its activities; significant financial market and regulatory developments; and potential emerging threats to the financial stability of the United States. Pursuant to Section 112(c) of Dodd-Frank, the Chairperson of the FSOC is required to testify before the Committee to discuss the efforts, activities, objectives, and plans of FSOC and discuss and answer questions concerning FSOC’s annual report.
The Dodd-Frank Act established FSOC in the aftermath of the 2008 financial crisis to carry out three primary purposes, which are: “(A) to identify risks to the financial stability of the United States that could arise from the material financial distress or failure, or ongoing activities, of large, interconnected bank holding companies or nonbank financial companies, or that could arise outside the financial services marketplace; (B) to promote market discipline, by eliminating expectations on the part of shareholders, creditors, and counterparties of such companies that the Government will shield them from losses in the event of failure; and (C) to respond to emerging threats to the stability of the United States financial system.”
The FSOC comprises ten voting members – including the Secretary of the Treasury, who serves as FSOC’s Chairperson – and five nonvoting members. The Office of Financial Research (OFR) was established to conduct independent research and support FSOC’s work. While FSOC is empowered to designate nonbank financial companies for enhanced oversight by the Federal Reserve or designate systemically important financial market utilities (SIFMUs), FSOC can generally only recommend—but not compel— member agencies to undertake regulatory changes.
A summary of FSOC’s 2021 annual report and recent activities are described below.
Potential Threats to Financial Stability
According to FSOC’s 2021 annual report, “Regulatory reforms after the 2008 financial crisis strengthened the ability of the financial system to withstand a shock or an economic downturn. However, risks to U.S. financial stability today are elevated compared to before the pandemic… At the onset of the pandemic, the financial crisis in March 2020 has also made some vulnerabilities more salient.” The report identified the following areas of risks and vulnerabilities to financial stability:
Climate-related financial risk. In May 2021, President Biden issued Executive Order 14030, directing the Treasury Secretary to engage with FSOC members on climate-related financial risks and report on the FSOC’s activities. In October 2021, the FSOC issued a detailed report on climate-related financial risk, which found that “Climate change is an emerging threat to the financial stability of the United States.” The report described “physical risks” as economic and financial losses stemming from “harm to people and property arising from acute, climate-related disaster events such as hurricanes, wildfires, floods, and heatwaves as well as longer-term chronic phenomena such as higher average temperatures, changes in precipitation patterns, sea-level rise, and ocean acidification.” The report also described “transition risks,” or “stresses to certain institutions or sectors arising from the shifts in policy, consumer and business sentiment, or technologies associated with the changes necessary to limit climate change.” At its December 2021 meeting, the FSOC voted to establish a Climate-related Financial Risk Committee within the FSOC.
Corporate credit. FSOC noted that the average leverage of non-financial corporations is high relative to historical norms, particularly for the airline, hospitality and leisure, and restaurant sectors. FSOC recommended that member agencies monitor non-financial business leverage, asset valuations, and the financial sector’s ability to manage severe simultaneous losses.
Short-term wholesale funding markets. FSOC highlighted how money...
Hearing page: https://democrats-financialservices.house.gov/events/eventsingle.aspx?EventID=409377
- published: 12 May 2022
- views: 5252
43:51
Treasury Secretary Yellen presides over Financial Stability Oversight Council meeting — 4/21/23
Treasury Secretary Janet Yellen presides over a meeting of the Financial Stability Oversight Council at the Treasury Department on Friday.
» Subscribe to CNBC ...
Treasury Secretary Janet Yellen presides over a meeting of the Financial Stability Oversight Council at the Treasury Department on Friday.
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
Connect with CNBC News Online
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Treasury Secretary Yellen presides over Financial Stability Oversight Council meeting — 4/21/23
https://wn.com/Treasury_Secretary_Yellen_Presides_Over_Financial_Stability_Oversight_Council_Meeting_—_4_21_23
Treasury Secretary Janet Yellen presides over a meeting of the Financial Stability Oversight Council at the Treasury Department on Friday.
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
Connect with CNBC News Online
Get the latest news: http://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
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#CNBC
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Treasury Secretary Yellen presides over Financial Stability Oversight Council meeting — 4/21/23
- published: 21 Apr 2023
- views: 8898
2:41:46
062414 - The Annual Report of the Financial Stability Oversight Council (EventID=102406)
Tuesday, June 24, 2014 -- Committee on Financial Services Hearing: The Annual Report of the Financial Stability Oversight Council
Tuesday, June 24, 2014 -- Committee on Financial Services Hearing: The Annual Report of the Financial Stability Oversight Council
https://wn.com/062414_The_Annual_Report_Of_The_Financial_Stability_Oversight_Council_(Eventid_102406)
Tuesday, June 24, 2014 -- Committee on Financial Services Hearing: The Annual Report of the Financial Stability Oversight Council
- published: 22 Sep 2015
- views: 35
2:23:16
The Financial Stability Oversight Council Annual Report to Congress
THE COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS will meet in OPEN SESSION, HYBRID FORMAT to conduct a hearing entitled, “The Financial Stability Oversight ...
THE COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS will meet in OPEN SESSION, HYBRID FORMAT to conduct a hearing entitled, “The Financial Stability Oversight Council Annual Report to Congress.” The witness will be: The Honorable Janet L. Yellen, Secretary, Department of the Treasury.
Pursuant to guidance from the CDC and OAP, Senate office buildings are not open to the public other than official business visitors and credentialed press at this time. Accordingly, in-person visitors cannot be accommodated at this briefing. We encourage the public to utilize the Committee’s livestream of the hearing, available on the website at http://www.banking.senate.gov.
All hearings are webcast live and will not be available until the hearing starts. Individuals with disabilities who require an auxiliary aid or service, including closed captioning service for webcast hearings, should contact the committee clerk at 202-224-7391 at least three business days in advance of the hearing date.
https://wn.com/The_Financial_Stability_Oversight_Council_Annual_Report_To_Congress
THE COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS will meet in OPEN SESSION, HYBRID FORMAT to conduct a hearing entitled, “The Financial Stability Oversight Council Annual Report to Congress.” The witness will be: The Honorable Janet L. Yellen, Secretary, Department of the Treasury.
Pursuant to guidance from the CDC and OAP, Senate office buildings are not open to the public other than official business visitors and credentialed press at this time. Accordingly, in-person visitors cannot be accommodated at this briefing. We encourage the public to utilize the Committee’s livestream of the hearing, available on the website at http://www.banking.senate.gov.
All hearings are webcast live and will not be available until the hearing starts. Individuals with disabilities who require an auxiliary aid or service, including closed captioning service for webcast hearings, should contact the committee clerk at 202-224-7391 at least three business days in advance of the hearing date.
- published: 11 May 2022
- views: 759
3:13:35
092216 - “The Annual Report of the Financial Stability Oversight Council” (EventID=105365)
Thursday, September 22, 2016 (10:00 AM) - Committee on Financial Services Hearing: “The Annual Report of the Financial Stability Oversight Council”
Thursday, September 22, 2016 (10:00 AM) - Committee on Financial Services Hearing: “The Annual Report of the Financial Stability Oversight Council”
https://wn.com/092216_“The_Annual_Report_Of_The_Financial_Stability_Oversight_Council”_(Eventid_105365)
Thursday, September 22, 2016 (10:00 AM) - Committee on Financial Services Hearing: “The Annual Report of the Financial Stability Oversight Council”
- published: 22 Sep 2016
- views: 998
5:40
Reed Questions Secretary Yellen during Financial Stability Oversight Council's Annual Report
U.S. Senator Jack Reed questions Treasury Secretary Janet Yellen during the Senate Banking Committee hearing: "The Financial Stability Oversight Council Annual ...
U.S. Senator Jack Reed questions Treasury Secretary Janet Yellen during the Senate Banking Committee hearing: "The Financial Stability Oversight Council Annual Report to Congress." This hearing was held on Thursday, February 8, 2024.
https://wn.com/Reed_Questions_Secretary_Yellen_During_Financial_Stability_Oversight_Council's_Annual_Report
U.S. Senator Jack Reed questions Treasury Secretary Janet Yellen during the Senate Banking Committee hearing: "The Financial Stability Oversight Council Annual Report to Congress." This hearing was held on Thursday, February 8, 2024.
- published: 09 Feb 2024
- views: 47
5:45
Emmer Questions the Financial Stability Oversight Council
On December 8, 2015 Congressman Tom Emmer (MN-06) attended a Financial Services Full Committee Hearing where he questioned nine of the ten voting members of the...
On December 8, 2015 Congressman Tom Emmer (MN-06) attended a Financial Services Full Committee Hearing where he questioned nine of the ten voting members of the Financial Stability Oversight Council.
https://wn.com/Emmer_Questions_The_Financial_Stability_Oversight_Council
On December 8, 2015 Congressman Tom Emmer (MN-06) attended a Financial Services Full Committee Hearing where he questioned nine of the ten voting members of the Financial Stability Oversight Council.
- published: 10 Dec 2015
- views: 37