Acting Comptroller Issues Statement at Financial Stability Oversight Council Meeting — 2023-04-21

WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today issued the following statement at the Financial Stability Oversight Council (FSOC) meeting: Thank you, Madam Secretary, for your strong leadership of the Council on this important project. I would also like to extend my thanks to the FSOC staff and the staff of the Council members for their hard work on preparing this release. I support the issuance of the proposed guidance for notice and comment. Revising the Interpretive Guidance on Nonbank Financial Company Designations is important to improve the balance and transparency of the Council’s work. In addition, the new proposed Analytical Framework describes the approach the Council would take in identifying, assessing, and responding to certain potential risks to U.S. financial stability.