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Bernanke: Dodd-Frank Implementation: Monitoring Systemic Risk and Promoting Financial Stability
The FedeChairman Johnson, Ranking Member Shelby, and other members of the Committee, thank you for the opportunity to testify on the Federal Reserve Board's role in monitoring systemic risk and promoting financial stability, both as a member of the Financial Stability Oversight Council (FSOC) and under our own authority. Financial Stability Oversight Council The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) created the FSOC to identify and mitigate threats to the financial stability of the United States. During its existence thus far, the FSOC has promoted interagency collaboration and ... (full story)