WASHINGTON – Today, U.S. Secretary of the Treasury Janet L. Yellen convened a meeting of the Financial Stability Oversight Council (Council) in executive and public sessions at the U.S. Department of the Treasury (Treasury).
During the executive session, the Council received an update from member agency staff on recent and planned work of the Council’s Financial Market Utilities (FMU) Committee, including the committee’s review of the eight FMUs that the Council designated in 2012.
The Council also received an update from staff of Treasury and the Federal Reserve Bank of New York on market developments related to corporate credit, including private credit. While risks remain balanced in credit markets overall, the private credit market has grown substantially and is a relatively opaque segment of the broader financial market that warrants continued monitoring.
During the public session, the Council received a presentation on the Council’s Report on Nonbank Mortgage Servicing. The Council voted unanimously to approve the issuance of the report.
The Council also voted to approve the minutes of its previous meeting on February 23, 2024.
In attendance at the Council meeting at Treasury or virtually were the following members:
Additional information regarding the Council, its work, and the recently approved Report on Nonbank Mortgage Servicing and meeting minutes is available at http://www.fsoc.gov.
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