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3/19/2020

Readout of Financial Stability Oversight Council Meeting | U.S. Department of the Treasury

Readout of Financial Stability Oversight Council Meeting
September 12, 2018

Washington – U.S. Treasury Secretary Steven T. Mnuchin today convened a meeting of the
Financial Stability Oversight Council (Council) in executive session at the U.S. Department of the
Treasury.
The Council made a final decision to grant the appeal of ZB, N.A. under section 117 of the DoddFrank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). With the Council’s
decision, ZB will not be treated as a designated nonbank financial company upon completion of
ZB’s proposed merger with its parent bank holding company, Zions Bancorporation.
During the meeting, the Council also discussed its 2018 annual report and the ongoing
reevaluation of its designation of a nonbank financial company.
In addition, the Council voted to approve its fiscal year 2019 budget and the minutes of its
previous meeting on July 17.
Additional information regarding the Council, its work, and the recently approved budget and
meeting minutes is available at http://www.fsoc.gov.
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https://home.treasury.gov/news/press-releases/sm479

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