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FSOC seeks comment on proposed interpretative guidance for nonbank designation

US Secretary of the Treasury Scott Bessent speaks in Dallas.
US Secretary of the Treasury Scott Bessent. Photo: Richard Rodriguez/Getty Images

Catherine Ollinger

2 min read
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Proposals include enhanced “analytical rigor,” reinstitution of an “activities-based” risk assessment, and a pre-designation “off-ramp” for nonbanks.

After a change of approach just three years ago, the guidance for designating nonbanks may reinstitute elements introduced during the first Trump Presidency in 2019.

On March 25, the Financial Stability Oversight Council (FSOC) announced that it is seeking public comment for its latest round of proposals regarding nonbank financial institution designations

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