Tag Archives: sifi

the outside exterior of the U.S. Treasury Department building

Letters to Regulators: Letter to Secretary Yellen on Restoring FSOC’s Ability to Fully Execute its Authority Under Dodd Frank

AFREF and 30 allies sent a letter to Secretary of the Treasury Janet Yellen urging her to prioritize restoring FSOC’s ability to fully execute its authority under Dodd-Frank by repealing the SIFI 2019 guidance; developing a data strategy for OFR; and using the statutory authority given in Title I of Dodd-Frank to apply a racial equity lens when designating a non-bank financial company as a SIFI.

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News Release: Regulators were wrong to remove Prudential Financial from list of systemically important financial companies

The Financial Stability Oversight Council (FSOC) announced that it has reversed its designation of Prudential Financial, Inc. as a systemically important financial institution (SIFI). The Council, under the leadership of Secretary Mnuchin, has now freed from Federal Reserve consolidated oversight the last of the four previously designated nonbank SIFIs.