US Watchdogs Propose Tighter Oversight of Nonbanks Posing Systemic Risk
- Yellen unveils FSOC plan for tougher nonbank scrutiny
- FSOC proposes new framework for risk identification, response
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The top US financial regulators proposed strengthening tools for addressing threats to financial stability, including changes to Trump-era guidance that had made it difficult to tag nonbank firms as systemically important institutions.
US Treasury Secretary Janet Yellen on Friday announced a proposal by the Financial Stability Oversight Council that would revise the way nonbank firms are designated.