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9/22/2023 READOUT: Financial Stability Oversight Council Meeting on September 22, 2023 | U.S. Department of the Treasury READOUT: Financial Stability Oversight Council Meeting on September 22, 2023 September 22, 2023 WASHINGTON – Today, U.S. Secretary of the Treasury Janet L. Yellen convened a meeting of the Financial Stability Oversight Council (Council) in executive session at the U.S. Department of the Treasury (Treasury). During the meeting, the Council heard an update from Federal Reserve sta on international market developments, including the outlook for global financial stability and macroeconomic and financial conditions in China. Council members discussed potential channels through which international market developments could a ect the U.S. financial system and noted the resilience of the U.S. financial system to risks emanating from abroad. The Council also received an update from Treasury sta on the public comments received on the Councilʼs proposed analytic framework for financial stability risk identification, assessment, and response and the Councilʼs proposed interpretive guidance regarding nonbank financial company determinations. The Council will continue to consider the public comments as it works toward finalizing the two documents. In addition, the Council received an update from Treasury sta on the development of the Councilʼs 2023 annual report. The Council also voted to approve its fiscal year 2024 budget and the minutes of its previous meeting on July 28, 2023. The approved budget provides for fiscal year 2024 expenditures of $14,186,569 for the Council secretariat at Treasury and the Councilʼs independent member with insurance expertise. In attendance at the Council meeting at Treasury or virtually were the following members: Janet L. Yellen, Secretary of the Treasury (Chairperson of the Council) Jerome H. Powell, Chair, Board of Governors of the Federal Reserve System Michael J. Hsu, Acting Comptroller of the Currency Rohit Chopra, Director, Consumer Financial Protection Bureau https://home.treasury.gov/news/press-releases/jy1761 1/2 9/22/2023 READOUT: Financial Stability Oversight Council Meeting on September 22, 2023 | U.S. Department of the Treasury Gary Gensler, Chair, Securities and Exchange Commission Martin Gruenberg, Chairman, Federal Deposit Insurance Corporation Rostin Behnam, Chairman, Commodity Futures Trading Commission Sandra L. Thompson, Director, Federal Housing Finance Agency Todd M. Harper, Chairman, National Credit Union Administration (virtual) Thomas Workman, Independent Member with Insurance Expertise James Martin, Acting Director, O ice of Financial Research (non-voting member) Steven Seitz, Director, Federal Insurance O ice (non-voting member) Elizabeth K. Dwyer, Superintendent of Financial Services, Rhode Island Department of Business Regulation (non-voting member) (virtual) Adrienne A. Harris, Superintendent, New York State Department of Financial Services (nonvoting member) Melanie Lubin, Securities Commissioner, O ice of the Attorney General of Maryland, Securities Division (non-voting member) Additional information regarding the Council, its work, and the recently approved budget and meeting minutes is available at http://www.fsoc.gov. ### https://home.treasury.gov/news/press-releases/jy1761 2/2
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