Treasury Secretary Yellen Convenes Unscheduled FSOC Meeting!

U.S. Treasury Secretary Janet Yellen will chair a closed-door meeting of the Financial Stability Oversight Council (FSOC) on Friday, media reports said, citing a statement from the department.

It was not immediately clear when the previously unscheduled meeting would begin nor whether the council would provide further details about its discussions.

The meeting comes when regulators continue to try to allay market concerns about the financial sector’s health. Two weeks ago, a bank run was triggered by the collapse of Silicon Valley Bank.

The financial regulators’ panel includes the heads of the Federal Reserve, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission and other regulators. The FSOC is tasked with identifying risks to financial stability in the U.S. but has limited legal authority.


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