The Financial Stability Oversight Council was established by the DoddFrank Act to monitor financial markets and reduce the likelihood of future financial meltdowns.

Question

The Financial Stability Oversight Council was established by the Dodd­Frank Act to monitor financial markets and reduce the likelihood of future financial meltdowns.

Quizplus · Accepted Answer

The statement is factually correct. The Financial Stability Oversight Council (FSOC) was indeed established by the Dodd­Frank Act in 2010 to monitor and address risks to the financial stability of the United States. The FSOC is composed of representatives from various government agencies and is chaired by the Secretary of the Treasury. Its mandate includes identifying and addressing potential systemic risks posed by firms and financial products, promoting market discipline, and responding to emerging threats to financial stability.

The Financial Stability Oversight Council Was Established by the Dodd­Frank

The Financial Stability Oversight Council Was Established by the DoddFrank