The Financial Stability Oversight Council (FSOC) was created by the Dodd-Frank Act(DFA) in 2010 as part of a comprehensive reform of banking and securities market regulators. The council is charged with monitoring systemic risk in the financial system and coordinating several federal financial regulators. The FSOC is expected to facilitate communication among existing financial regulators intending to identify sources of financial instability that cross agency regulatory jurisdiction, or that reside in gaps in the financial regulatory framework. This book describes the mission, membership, and scope of the FSOC with its focus on establishing a framework for mitigating systemic risk.
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