Treasury proposes tighter oversight of non-banks that pose systemic risk

U.S. Secretary of the Treasury Janet Yellen is currently presiding over a meeting of the Financial Stability Oversight Council, or FSOC, at the Treasury Department, during which the Council is discussing proposals regarding tighter oversight of non-bank financial company designations. The agenda for the public session includes the Council’s proposed analytic framework for financial stability risk identification, assessment, and response, and the Council’s proposed guidance on non-bank financial company designations, the Treasury has noted. Some non-bank financial companies that may see their shares react to the proposals include BlackRock (BLK), MetLife (MET), Prudential (PRU), AIG (AIG) and Rocket Companies (RKT). Reference Link