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Washington
Matz fed regulators hold first FSOC meeting on Oct. 1
WASHINGTON (9/24/10)--National Credit Union Administration (NCUA) Chairman Debbie Matz will be among those in attendance when the U.S. Treasury hosts the first meeting of the new Financial Stability Oversight Council (FSOC) on Oct. 1. 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 will also be in attendance. Representatives from the Commodity Futures Trading Commission and the Federal Housing Finance Agency will also attend the meeting. All are members of the council. The oversight council, which was created when the Dodd-Frank financial reform package was signed into law, will provide a forum for discussion between various regulatory agencies and will oversee the resolution of troubled financial institutions. The council will monitor markets for disturbances, and will also promote market discipline by “eliminating expectations on the part of shareholders, creditors, and counterparties that the government will shield them from losses in the event of failure,” the Treasury added in a release. For the full Treasury release, use the resource link.
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