READOUT: Meeting of the Financial Stability Supervisory Board on September 23, 2022

WASHINGTON — Today, U.S. Treasury Secretary Janet L. Yellen convened a meeting of the Financial Stability Supervisory Board (Board) in executive session via videoconference.

During the meeting, the Board received an update from Treasury staff on the Board’s report being prepared in response to the Executive Order on Ensuring Responsible Development of Digital Assets. The Council expects to publish the report in October 2022.

The Board also heard a presentation from Federal Housing Finance Agency (FHFA) staff on FHFA’s upcoming review of the Federal Home Loan Bank System, which will include an assessment of the system’s mission, eligibility requirements for membership and operational efficiency.

The Board also received an update from Treasury staff on the development of the Board’s 2022 Annual Report.

Additionally, the Board voted to approve its budget for fiscal year 2023 and the minutes of its previous meeting on July 28, 2022.

The following members were present at the Board meeting by videoconference:

  • Janet L. Yellen, Secretary of the Treasury (Chair of the Board)
  • Jerome H. Powell, Chairman, Board of Governors of the Federal Reserve System
  • Michael J. Hsu, Acting Comptroller of the Currency
  • Rohit Chopra, Director, Consumer Financial Protection Bureau
  • Gary Gensler, Chairman, Securities and Exchange Commission
  • Martin Gruenberg, Acting Chairman, Federal Deposit Insurance Corporation
  • Rostin Behnam, Chairman, Commodity Futures Trading Commission
  • Sandra L. Thompson, Director, Federal Housing Finance Agency
  • Todd M. Harper, President, National Credit Union Administration
  • Thomas Workman, Independent Member Insurance Expert
  • James Martin, Acting Director, Office of Financial Research (non-voting member)
  • Steven Seitz, Director, Federal Insurance Office (non-voting)
  • Charles G. Cooper, Commissioner, Texas Department of Banking (non-voting member)
  • Elizabeth K. Dwyer, Superintendent of Financial Services, Rhode Island Department of Business Regulation (non-voting member)
  • Melanie Lubin, Securities Commissioner, Maryland Attorney General’s Office, Securities Division (Non-Voting Member)

Additional information about the Board, its work, the recently approved budget and meeting minutes is available at http://www.fsoc.gov.

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