Markets Wired

WASHINGTON – Today, U.S. Secretary of the Treasury Janet L. Yellen convened a meeting of the Financial Stability Oversight Council (Council) in executive session by videoconference.

During the meeting, the Council received an update from staff of the Federal Reserve and the Commodity Futures Trading Commission on commodity market developments and broader financial stability developments including asset valuations, nonfinancial and financial leverage, and funding risk.

The Council also heard an update from Treasury staff on preliminary work performed in response to the Executive Order on Ensuring Responsible Development of Digital Assets, including on the Council report being prepared in response to the Executive Order.

The Council also voted to approve the minutes of its previous meetings on February 4, 2022 and February 28, 2022.

In attendance at the Council meeting by videoconference were the following members:

• Janet L. Yellen, Secretary of the Treasury (Chairperson of the Council)
• Jerome H. Powell, Chair, Board of Governors of the Federal Reserve System
• Michael J. Hsu, Acting Comptroller of the Currency
• Rohit Chopra, Director, Consumer Financial Protection Bureau
• Gary Gensler, Chair, Securities and Exchange Commission
• Martin Gruenberg, Acting Chairman, Federal Deposit Insurance Corporation
• Rostin Behnam, Chairman, Commodity Futures Trading Commission
• Sandra L. Thompson, Acting Director, Federal Housing Finance Agency
• Todd M. Harper, Chairman, National Credit Union Administration
• Thomas Workman, Independent Member with Insurance Expertise
• James Martin, Acting Director, Office of Financial Research (non-voting member)
• Steven Seitz, Director, Federal Insurance Office (non-voting member)
• Charles G. Cooper, Commissioner, Texas Department of Banking (non-voting member)
• Beth Dwyer, Superintendent, Rhode Island Department of Business Regulation (non-voting member)
• Melanie Lubin, Securities Commissioner, Office of the Attorney General of Maryland, Securities Division (non-voting member)

Additional information regarding the Council, its work, and the recently approved meeting minutes is available at http://www.fsoc.gov.

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