Legislative Activity
This Week’s Hearings:
- Wednesday, June 12: The House Financial Services Committee will hold a hearing titled “Beyond GSEs: Examples of Successful Housing Finance Models without Explicit Government Guarantees.”
- Wednesday, June 12: The House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises will hold a hearing titled “Reducing Barriers to Capital Formation.”
- Thursday, June 13: The House Financial Services Subcommittee on Monetary Policy and Trade will hold a hearing titled “Assessing Reform at the Export-Import Bank.”
- Thursday, June 13: The House Financial Services Subcommittee on Housing and Insurance will hold a hearing titled “The Impact of International Regulatory Standards on the Competitiveness of U.S. Insurers.”
- Thursday, June 13: The Senate Banking Committee will hold a hearing titled “Lessons Learned from the Financial Crisis Regarding Community Banks.”
Executive Branch Activity
FSOC Designates Several Non-Bank Institutions as Systemically Important
In a closed meeting last Monday, June 3, the Financial Stability Oversight Council (FSOC) took preliminary steps to designate several non-bank financial institutions as “systemically important financial institutions” (SIFIs). A list of the institutions being considered for SIFI designations was not made available to the public, although reports indicate that AIG, Prudential Financial, and GE Capital are among those being considered.