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'''Financial Stability Oversight Council (FSOC)''' is a collaborative body created to monitor the stability of the U.S. financial system, identify potential risks, and coordinate responses to threats that could impact the economy. {{Official URL (simple)|url=https://home.treasury.gov/policy-issues/financial-markets-financial-institutions/financial-stability-oversight-council}} == Mission == The mission of the FSOC is to protect the financial stability of the United States by identifying risks that could arise from the distress or failure of large, interconnected financial companies or from activities outside the traditional financial sector. FSOC works to promote market discipline and respond proactively to emerging threats to ensure the U.S. financial system remains robust and resilient. == Parent organization == FSOC operates under the oversight of the [https://home.treasury.gov U.S. Department of the Treasury], with the Treasury Secretary serving as the chair. == Legislation == FSOC was established by the [https://www.govinfo.gov/content/pkg/PLAW-111publ203/pdf/PLAW-111publ203.pdf Dodd-Frank Wall Street Reform and Consumer Protection Act] of 2010, following the financial crisis to enhance oversight of the financial system. == Partners == - Federal financial regulatory agencies like the SEC, FDIC, and Federal Reserve. - State insurance, banking, and securities regulators. == Number of employees == FSOC has about 45 employees, though this number might fluctuate based on the needs of the Council's activities. == Organization structure == * '''Council Membership''' includes 10 voting and 5 non-voting members from various federal and state regulatory bodies. * '''Deputy Committee''' supports the Council's work by preparing for meetings and monitoring risks. * '''Office of Financial Research (OFR)''' provides research and data analysis to support FSOC's work. == List of programs == * Designation of Systemically Important Financial Institutions * Annual Report on Financial Stability * Coordination of Regulatory Response to Financial Crises == Last total enacted budget == The specific budget for FSOC is not publicly detailed as part of the broader Department of the Treasury's budget. == Leader == Janet L. Yellen, as the Secretary of the Treasury, serves as the Chair of the FSOC. == Services provided == FSOC services include monitoring and analyzing risks to financial stability, making recommendations for regulatory oversight, designating nonbank financial companies for enhanced supervision, and fostering cooperation among financial regulators. It also publishes an annual report discussing potential threats and its activities. == Regulations overseen == FSOC does not directly create regulations but can recommend regulatory actions to member agencies. It influences regulatory policy by identifying systemic risks and suggesting how these should be managed. == Headquarters address == 1500 Pennsylvania Avenue, NW, Washington, DC 20220 == Website == https://home.treasury.gov/policy-issues/financial-markets-financial-institutions/financial-stability-oversight-council == Wikipedia article == wikipedia:Financial Stability Oversight Council <references> <ref>https://home.treasury.gov/policy-issues/financial-markets-financial-institutions/financial-stability-oversight-council</ref> <ref>https://en.wikipedia.org/wiki/Financial_Stability_Oversight_Council</ref> <ref>https://www.fsoc.gov/</ref> </references>