Under the Dodd-Frank Act, regulators must determine which nonbank financial firms warrant increased supervision because they are so big and interconnected that their failure could affect the broader system. In a recently approved regulation, officials suggested that they are close to determining which firms are systemically important: "Based on data currently available to the [Financial Stability Oversight] Council through existing public and regulatory sources, the Council has estimated that fewer than 50 nonbank financial companies meet the Stage 1 thresholds."

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