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Read. Follow. Verify.Congressional Hearing on Non-Bank SIFI Designation Process
Record date · January 1, 2018
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What This Bill Does
This document is a transcript of a March 28, 2017, House Subcommittee hearing regarding the process used to designate financial institutions as Systemically Important Financial Institutions (s). The hearing focused on criticisms that the designation process under the is arbitrary and inconsistent.
The hearing examines the regulatory oversight of large financial firms, which impacts how these companies are supervised and the potential financial risks they pose to the broader economy.
Who It Affects
Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.
Non-bank financial institutions
These companies are subject to the SIFI designation process, which determines their regulatory oversight requirements.
Financial regulators
These agencies are responsible for implementing the SIFI designation process under the Dodd-Frank Act.
Key Facts
- The hearing was held on March 28, 2017, by the Subcommittee on Oversight and Investigations.
- The subject of the hearing was the 'Non-Bank SIFI Designation Process' established by the Dodd-Frank Act.
- The subcommittee heard testimony from four witnesses: Douglas Holtz-Eakin, Paul H. Kupiec, Alex J. Pollock, and David Zaring.
- The hearing included the submission of written statements from the American Council of Life Insurers and the Property Casualty Insurers Association of America.
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- The hearing was conducted in room 2128 of the Rayburn House Office Building.
Frequently Asked Questions
What is a non-bank SIFI?
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News Coverage
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Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Regulatory Scrutiny
The hearing highlights a period of legislative pushback against the regulatory powers granted to financial oversight bodies by the Dodd-Frank Act.
Connected Entities
Sources
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Analysis Score
0–100- Significance60How much this matters to a regular citizen
- Controversy50Intensity of disagreement among stakeholders
- Entertainment10Compellingness for a non-policy-wonk reader
- Buzz20Current news / social attention level
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