On June 9, the Systemic Risk Council (SRC) sent a letter to the House Financial Services Committee about its concerns with H.R. 4387, the FSOC Transparency and Accountability Act, and the proposed moratorium on Financial Stability Oversight Council (FSOC) determinations.
The letter notes that the proposed legislation would undermine FSOC’s ability to identify emerging risks in the financial system and perform the functions necessary to prevent crippling financial crises from happening in the future.
Read the full letter below: