An update on interpretive guidance on nonbank financial company determinations is among the items on the agenda for the multi-federal financial regulators’ meeting set for next week, the Treasury Department said Friday.
The meeting of the Financial Stability Oversight Council (FSOC), set for Dec. 11, will have both executive (secret) and open sessions, the Treasury said. The preliminary agenda for the executive session includes an update on FSOC’s workstreams and the update on FSOC’s interpretive guidance on nonbank financial company determinations.
The session will also include an updated on the group’s “analytic framework for financial stability risk identification, assessment, and response.: FSOC emphasized that portion of the meeting will be held in closed session. In a footnote, the group gave a long (one sentence of 122 words) explanation. It stated the session is closed “to prevent the potential disclosure of information contained in or related to investigation, examination, operating, or condition reports prepared by, on behalf of, or for the use of, an agency responsible for the regulation or supervision of financial markets or financial institutions; information which would lead to significant financial speculation, significantly endanger the stability of any financial market or financial institution, or significantly frustrate implementation of a proposed agency action; information exempted from disclosure by statute or by regulation, or authorized under criteria established by an Executive Order to be kept secret; trade secrets and commercial or financial information obtained from a person and privileged or confidential; and inter-agency and intra-agency memoranda or letters which would not otherwise be available by law.”
In open session, FSOC said it intends to include a presentation and vote on the Council’s 2025 annual report, and an update on banking supervision and regulatory reforms.
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