systemically significant financial institution

systemically significant financial institution
USA
A category of companies introduced under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, a systemically significant financial institution (SSFI) is a:
• bank holding company (BHC) with at least $50 billion in consolidated assets. This includes foreign companies that are BHCs because they own a US bank or are deemed to be BHCs because they operate a US branch or agency or commercial lending subsidiary.
• US or foreign non-bank financial company predominantly engaged in financial activities that the Financial Stability Oversight Council (FSOC) has determined could pose a threat to the financial stability of the US because of its size, scale, concentration, interconnectedness or mix of activities or as a result of a material financial distress at the company. A non-bank financial company as to which the FSOC has made this determination is subject to the supervision of the Federal Reserve Board and the enhanced prudential standards that it must set for, among other things, capital and leverage.
For more information on SSFIs, the standards to which they are subject and the Dodd-Frank Act generally, see Articles, Summary of the Dodd-Frank Act: Regulation of Systemically Significant Financial Institutions (www.practicallaw.com/1-502-8437) and Road Map to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (www.practicallaw.com/3-502-8479)

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Игры ⚽ Нужно решить контрольную?

Look at other dictionaries:

  • Systemically Important Financial Institution – SIFI — Any firm as designated by the U.S. Federal Reserve, whose collapse would pose a serious risk to the economy. Systematically important financial institutions became the target of legislation and regulatory reform by the Obama Administration, due… …   Investment dictionary

  • Late-2000s financial crisis — The TED spread (in red) increased significantly during the financial crisis, reflecting an increase in perceived credit risk …   Wikipedia

  • Dodd–Frank Wall Street Reform and Consumer Protection Act — Full title An Act to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end too big to fail , to protect the American taxpayer by ending bailouts, to protect consumers… …   Wikipedia

  • Troubled Asset Relief Program — TARP redirects here. For other uses, see Tarp. This article is about the Treasury fund. For the legislative bill and subsequent law, see Public Law 110 343. For the legislative history and the events leading to the law, see Emergency Economic… …   Wikipedia

  • Subprime mortgage crisis — Part of a series on: Late 2000s financial crisis Major dimensions …   Wikipedia

  • Yonsei University — 연세대학교 Motto The truth will set you free. (John 8:32) 진리가 너희를 자유케 하리라. (요한복음 8:32) Established Hos …   Wikipedia

  • Surplus value — is a concept created by Karl Marx in his critique of political economy, where its ultimate source is unpaid surplus labor performed by the worker for the capitalist, serving as a basis for capital accumulation.The German equivalent word Mehrwert… …   Wikipedia

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”