The Dodd-Frank Wall Street Reform and Consumer Protection Act created the Financial Stability Oversight Council (FSOC). The June 30, 2010 Joint Explanatory Statement of the Committee of Conference Title I, which established a specific framework for ensuring financial stability, consists of three subtitles.
• Subtitle A establishes a Financial Stability Oversight Council to monitor potential threats to the financial system and provide for more stringent regulation of nonbank financial companies and financial activities that the council determines, based on consideration of risk-related factors, pose risks to financial stability.
