US to launch financial stability council next week
The Financial Stability Oversight Council (FSOC), set up to monitor financial stability in the United States, will hold its first meeting on 1 October, the US Treasury Department said on Thursday.
Eleven out of the fifteen members are expected to attend the first FSOC meeting, which will take place in Washington D.C. Tim Geithner, the secretary to the US Treasury, will chair the council.
The FSOC was set up under the Dodd-Frank Act, which was signed into law in July. The council is expected to
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