[Federal Register Volume 80, Number 28 (Wednesday, February 11, 2015)]
[Notices]
[Pages 7595-7596]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-02812]


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FINANCIAL STABILITY OVERSIGHT COUNCIL


Supplemental Procedures Relating to Nonbank Financial Company 
Determinations

AGENCY: Financial Stability Oversight Council.

ACTION: Notice of document availability.

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SUMMARY: This notice announces the availability of ``Supplemental 
Procedures Relating to Nonbank Financial Company Determinations'' 
(Supplemental Procedures).

DATES: Effective [DATE TBD].

ADDRESSES: Copies of the Supplemental Procedures are located on the 
Financial Stability Oversight Council Web site, available at 
www.fsoc.gov.

FOR FURTHER INFORMATION CONTACT: Requests for additional information 
should be directed to Deputy Assistant Secretary for the Financial 
Stability Oversight Council, Department of the Treasury, 1500 
Pennsylvania Avenue NW., Washington, DC 20220.

SUPPLEMENTARY INFORMATION: Section 113 of the Dodd-Frank Wall Street 
Reform and Consumer Protection Act (the Dodd-Frank Act) authorizes the 
Financial Stability Oversight Council (the Council) to determine that a 
nonbank financial company shall be supervised by the Board of Governors 
of the Federal Reserve System and be subject to enhanced prudential 
standards if the Council determines that material financial distress at 
the company, or the nature, scope, size, scale, concentration, 
interconnectedness, or mix of the activities of the company, could pose 
a threat to the financial stability of the United States.
    The Council has conducted a review of its practices related to the 
evaluation of nonbank financial companies under section 113 of the 
Dodd-Frank Act. The Council's review included engagement with financial 
companies, trade associations, nonbank financial companies subject to 
Council determinations, public interest groups, members of Congress and 
their staffs, and other stakeholders. At its open meeting on January 
21, 2015, the Council discussed its engagement with

[[Page 7596]]

stakeholders and changes recommended by staff to the Council's process 
for nonbank financial company determinations.
    Based on its review, the Council has adopted the Supplemental 
Procedures, which the Council intends to use for determinations in non-
emergency situations, to supplement its rule and interpretive guidance 
regarding nonbank financial company determinations.\1\ The Council will 
continue to work to identify and evaluate additional potential 
enhancements to its practices and procedures that would promote the 
Council's commitment to active engagement with companies under 
consideration for a determination and to transparency to the public.
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    \1\ Authority to Require Supervision and Regulation of Certain 
Nonbank Financial Companies, 12 CFR part 1310 (2013).

Patrick Pinschmidt,
Deputy Assistant Secretary for the Financial Stability Oversight 
Council, Department of the Treasury, Executive Director, Financial 
Stability Oversight Council.
[FR Doc. 2015-02812 Filed 2-10-15; 8:45 am]
BILLING CODE 4810-25-P-P