Financial stability council to discuss money market mutual reform, LIBOR transition June 11

Money market mutual fund reform and the transition from LIBOR (London Interbank Offered Rate) are slated for open session discussion during the June 11 meeting of the Financial Stability Oversight Council (FSOC), which will be held by videoconference, according to a meeting notice.

A preliminary closed meeting agenda includes money market mutual fund reform and preliminary updates regarding council priorities.

The FSOC, chaired by Treasury Secretary Janet Yellen, is charged with identifying risks and responding to emerging threats to financial stability. It has 10 voting members and five nonvoting members. Among the voting members, in addition to Yellen, are the heads of the Federal Deposit Insurance Corp. (FDIC), the Federal Reserve, the National Credit Union Administration (NCUA), the Office of the Comptroller of the Currency, and the Consumer Financial Protection Bureau (CFPB).

Notice of FSOC meeting