Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
FSOC report covers recent future financial issues
WASHINGTON (7/27/11)--The present state of the U.S. financial system and some of the issues that could shape the system going forward are addressed in the Financial Stability Oversight Council’s (FSOC) first ever annual report. The FSOC was created when the Dodd-Frank Act was signed into law just over one year ago. The report identifies declining real estate prices, a sudden increase in term premiums on U.S. government debt, and an escalation of the European sovereign debt crisis as issues that could trouble the economy going forward. The council, which provides a forum for discussion between various regulatory agencies, is comprised of National Credit Union Administration Chairman Debbie Matz, Treasury Secretary and FSOC Chairman Tim Geithner, Federal Reserve Chairman Ben Bernanke, Acting Comptroller of the Currency John Walsh, Securities and Exchange Commission Chairman Mary Schapiro, and Federal Deposit Insurance Corp. Chairman Sheila Bair, and representatives from the Commodity Futures Trading Commission and the Federal Housing Finance Agency. The council will also oversee the resolution of troubled financial institutions. Matz was one of the 10 FSOC members that attested to the report, and added that the release of the FSOC report “marks an important milestone. “The FSOC is a critical institution that will have an important role in financial stability for many years to come,” she added. For the full FSOC report, use the resource link.
Other Resources

RSS print
News Now LiveWire
Of $1.3B in payments through mobile devices, 90% occurred at @Starbucks stores http://t.co/MN49JR1NXK
10 hours ago
.@LoveBethpage 1st to launch mobile debit/credit card control from @COOPFS http://t.co/kuq7onGuai
11 hours ago
A booming W Okla county gets its first #creditunion @TheHEFCU See #NewsNow http://t.co/svTyMnms0X
13 hours ago
Mortgage interest rates continue slide in September @FHFA http://t.co/agU9RJW5Kq
15 hours ago
Reimagined branches shift to member, not #creditunion, needs: @cunacouncils white paper http://t.co/lN2mu0IVar
17 hours ago