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Minutes of the Financial Stability Oversight Council Held August 8, 2011 PRESENT: Timothy F. Geithner, Secretary of the Treasury and Chairperson of the Financial Stability Oversight Council Ben Bernanke, Chairman, Board of Governors of the Federal Reserve System (Federal Reserve) Mary Schapiro, Chairman, Securities and Exchange Commission (SEC) Martin J. Gruenberg, Acting Chairperson, Federal Deposit Insurance Corporation (FDIC) Gary Gensler, Chairman, Commodity Futures Trading Commission (CFTC) Edward DeMarco, Acting Director, Federal Housing Finance Agency (FHFA) Debbie Matz, Chairman, National Credit Union Administration (NCUA) John Walsh, Acting Comptroller of the Currency (OCC) William Haraf, Commissioner, California Department of Financial Institutions (non-voting member) John Huff, Director, Missouri Department of Insurance, Financial Institutions, and Professional Registration (non-voting member) David Massey, Deputy Securities Administrator, North Carolina Department of the Secretary of State, Securities Division (non-voting member) Michael McRaith, Director, Federal Insurance Office, Department of the Treasury (non-voting member) GUESTS: Department of the Treasury Neal S. Wolin, Deputy Secretary of the Treasury Lael Brainard, Under Secretary of the Treasury for International Affairs Mary J. Miller, Assistant Secretary for Financial Markets Amias Gerety, Deputy Assistant Secretary for FSOC Christopher J. Meade, Principal Deputy General Counsel Sara Aviel, Senior Advisor to the Secretary of the Treasury Board of Governors of the Federal Reserve System Daniel Tarullo, Governor Andreas Lehnert, Deputy Director, Office of Financial Stability Policy & Research Commodity Futures Trading Commission Dan Berkovitz, General Counsel Comptroller of the Currency David Wilson, Senior Deputy Comptroller, Bank Supervision Policy and Chief National Bank Examiner Federal Deposit Insurance Corporation Arthur Murton, Director, Division of Insurance and Research Federal Housing Finance Agency Mario Ugoletti, Special Advisor to the Director National Credit Union Administration John Worth, Chief Economist Securities and Exchange Commission Robert Cook, Director, Division of Trading and Markets Federal Reserve Bank of New York William Dudley, President and Chief Executive Officer California Department of Financial Institutions Michael Stevens, Senior Vice President & Director of Regulatory Affairs, Conference of State Bank Supervisors North Carolina Department of the Secretary of the State, Securities Division Joseph Brady, General Counsel, North American Securities Administrators Association Executive Session The Chairperson called the executive session of the meeting of the Financial Stability Oversight Council (Council) to order at 5:45 p.m. (EDT). The Council convened by teleconference to discuss market developments in light of increased market volatility and risk aversion. Members of the Council provided updates on market functioning, particularly with respect to financial markets and entities within their respective jurisdictions. Secretary Geithner stated that Council members should stay in close communication in the coming days. No votes were taken during the meeting. The Chairperson adjourned the meeting at approximately 6:00 p.m. (EDT).
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