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April 25, 2013

April 16, 2013 – House Financial Services Oversight Subcomittee hearing entitled "Who is Too Big to Fail; Does Dodd-Frank Authorize the Governemnt to Break Up Financial Institutions?"

This hearing is another part of a series of Oversight Subcommittee hearings generally dealing with the concept of Too Big to Fail. The issue at this session is the nature of the authority, particularly in Section 1215 and 165, given to the financial regulators to take action when the financial condition of a systemically significant financial institution constitutes a “grave ” threat to the nation’s economy.

The General Counsel of the Federal Reserve and two representatives from the FDIC did not speculate on what constituted a grave threat but remained focused on the letter of the new law. They detailed the process and conditions under which the regulators have the authority to take action, including implementing resolution plans submitted by the SIFIs.

Congressional Activities

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