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U.S. Department of the Treasury Office of Public Affairs Press Release: Contact: July 14, 2020 Treasury Public Affairs, (202) 622-2960 Readout of Financial Stability Oversight Council Meeting Washington – U.S. Treasury Secretary Steven T. Mnuchin today convened a meeting of the Financial Stability Oversight Council (Council) in executive session by telephone. The Council discussed developments related to COVID-19 and its impacts on financial institutions and markets. In particular, Council members shared information about actions they are taking to monitor the financial system. In addition, the Council heard an update from staff regarding an activities-based review of secondary mortgage market activities. The Council also received an update regarding the Federal Reserve Board’s recently announced stress test results, including the additional COVID-focused analysis conducted by the Board. The Council also voted to approve the minutes of its previous meeting on May 14, 2020. Additional information regarding the Council, its work, and its meeting minutes is available at http://www.fsoc.gov. ####