Yellen Proposes FSOC Revisions to Nonbank Oversight

The video discusses the challenges and flaws in the non-bank designation process, highlighting the unrealistic timelines and unnecessary hurdles that hinder financial stability efforts. It emphasizes the importance of the designation tool in preventing systemic risks and outlines steps to restore its effectiveness and transparency. The video also details the Council's engagement with companies and regulators, and introduces an analytic framework to enhance public understanding of the process.

What challenges are associated with the existing guidance issued in 2019 regarding non-bank designation authority?

How long is it estimated that the designation process with the additional steps could take, and why is this timeline considered unrealistic?

What role does the designation tool play in the context of financial stability and systemic risks?

What measures are being taken to ensure that the Council's non-bank designation process is rigorous and transparent?

In what ways does the proposed analytic framework aim to improve public understanding of non-bank designation?