House Financial Services Committee and Senate Banking Committee Hold Separate Hearings on Annual Report of FSOC (with Delta Strategy Group Summaries)

In separate hearings, the House Financial Services Committee and the Senate Banking Committee met to review the 2014 Annual Report to Congress of the Financial Stability Oversight Council ("FSOC").

At both hearings, Secretary of the Treasury Jacob J. Lew was the sole witness.

Click here for a summary of the House Financial Services Committee hearing, and click here for a summary of the Senate Banking Committee hearing, both prepared by Delta Strategy Group.

See: House Financial Services Committee Memorandum of Hearing; Archived Webcast of the Hearing; FSOC 2014 Annual Report. See also: Secretary Lew's Testimony. Related news: Commissioner Stein Discusses FSOC and Capital Regulations for Broker-Dealers (with Lofchie Comment) (June 13, 2014); House Financial Services Committee Hearing: "Examining the Dangers of the FSOC's Designation Process and Its Impact on the U.S. Financial System" (with Delta Strategy Group Summary) (May 21, 2014); FSOC Public Conference on Asset Management (with Delta Strategy Group Summary and Lofchie Comment) (May 20, 2014); House Financial Services Committee Chairman Calls on FSOC to Cease and Desist (May 20, 2014); SIFMA Says Asset Managers Do Not Pose Systemic Risk (with Lofchie Comment) (May 7, 2014); SIFMA AMG Submits Comments to the FSB on Assessment Methodologies for Identifying Non-Bank Non-Insurer G-SIFIs (April 4, 2014); SIFMA AMG Submits Comments to the FSB and SEC in Response to OFR Study and with Regard to Separate Accounts (April 7, 2014); SEC Commissioner Gallagher Submits Comment Letter in Opposition to FSOC Process (with Lofchie Comment) (May 15, 2014); House Financial Services Subcommittee Chairmen Send Letter to FSB and FSOC Requesting Information on Methodologies Used to Designate G-SIFIs (with Lofchie Comment) (May 9, 2014).