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FSOC to offer guidance on change in nonbank supervision

Friday, September 14, 2018   (0 Comments)
Posted by: Amanda Averch
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The Financial Stability Oversight Council plans to publish guidance on proposed amendments to its approach to nonbank supervision. The FSOC classifies specific nonbanks as systemically important, but it intends to move toward an activity-based approach that Craig Phillips, counselor to Treasury Secretary Steven Mnuchin, says would "really identify the activities that are causing potential stress to the system ... as opposed to focusing exclusively on the designation of the individual entity." Read more. 

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