Summary of the Section 622 Study and Recommendations Regarding Concentration Limits on Large Financial Companies, Released by the Financial Stability Oversight Council on January 18, 2011
As required by the Dodd-Frank Act, the Financial Stability Oversight Council (the “FSOC” or “Council”), has completed a study of the concentration limit imposed by Section 622 of the Dodd-Frank Act and issued a number of recommended modifications to it. Section 622 by its terms requires the FSOC to make recommendations regarding any modifications to the concentration limit the Council determines would “more effectively” implement the provision, and requires the Federal Reserve Board (the “Board”) to issue regulations to implement the recommendations.
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