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document_number title type abstract publication_date pub_year pub_month html_url pdf_url agency_names agency_ids excerpts
2011-7003 Authority To Designate Financial Market Utilities as Systemically Important Proposed Rule Section 804 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "DFA") provides the Financial Stability Oversight Council (the "Council") the authority to designate a financial market utility (an "FMU") the Council determines is or is likely to become systemically important--that is, the failure of or a disruption to the functioning of which could create, or increase, the risk of significant liquidity or credit problems spreading among financial institutions or markets and thereby threaten the stability of the United States financial system. This notice of proposed rulemaking (NPR) describes the criteria that will inform, and the processes and procedures established under the DFA for, the Council's designation of FMUs as systemically important under the DFA. The Council, on December 21, 2010, published an advance notice of proposed rulemaking regarding the designation criteria in section 804. 2011-03-28 2011 3 https://www.federalregister.gov/documents/2011/03/28/2011-7003/authority-to-designate-financial-market-utilities-as-systemically-important https://www.govinfo.gov/content/pkg/FR-2011-03-28/pdf/2011-7003.pdf Financial Stability Oversight Council 565 Section 804 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "DFA") provides the Financial Stability Oversight Council (the "Council") the authority to designate a financial market utility (an "FMU") the Council determines is or is...

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