Financial Stability Oversight Council Announces Changes to Nonbank Designations as Systemically Important

On February 4, the Financial Stability Oversight Council (Council) today announced changes to certain practices relating to its process for reviewing nonbank financial companies for potential designation. Nonbank financial companies that are designated by the Council are subject to supervision by the Federal Reserve and enhanced standards.  The Council will, amongst other things, inform companies earlier when they come under review and make available to the public additional information about its designations process.  Release.