“Financial regulators on Tuesday finalized their blueprint for determining what financial institutions pose a systemic risk to the financial system.”
“The nation’s top financial watchdogs unanimously signed off on final rules that lay out how they will go about determining which financial institutions are so integral to the financial system that they must be subject to heightened regulations.”
“Wall Street reform advocates called foul over the $50 billion threshold, arguing setting such a limit would allow some smaller institutions integral to the health of the system to go overlooked.”
“‘Everyone says they are for ending too-big-to-fail institutions, but that will only happen if they are regulated as required by the Dodd Frank financial reform law,’ said Dennis Kelleher, president of Better Markets. ‘FSOC failed to do that today.'”
Read full Hill article here.