READOUT: Financial Stability Oversight Council Meeting on March 20, 2025

WASHINGTON – Today, U.S. Secretary of the Treasury Scott Bessent convened a meeting of the Financial Stability Oversight Council (Council) in executive session at the U.S. Department of the Treasury (Treasury).During the meeting, Secretary Bessent shared his priorities for the Council. As Chairperson, he intends to prioritize enhancements to the member agencies’ supervisory and regulatory frameworks, as well as other efforts to position banks and other regulated entities to foster innovation and otherwise support economic growth. He encouraged the member agencies to re-focus their supervision on material financial risks. He also expressed support for ongoing banking agency work to remove reputational risk as a basis for supervisory criticism.The Council also heard a presentation from staff of Treasury, the Securities and Exchange Commission (SEC), and the Office of Financial Research (OFR) on developments in the Treasury market.