![]() The Government Accountability Office must annually audit the cybersecurity plan and its implementation. ![]() developing and implementing a cybersecurity plan.consulting with other federal departments and agencies with relevant expertise prior to preparing any public report with respect to a specified entity, class of entities, or financial product or service and.The bill expands the duties of the OFR to include The Financial Stability Oversight Council (FSOC) is a United States federal government organization, established by Title I of the DoddFrank Wall Street. The OFR must provide a public notice and comment period of at least 90 days before issuing any proposed report, rule, or regulation. This bill subjects the budgets of the Financial Stability Oversight Council (FSOC) and the Office of Financial Research (OFR) to the annual appropriations. actions taken to achieve the goals, objectives, and performance measures of the office.The OFR must submit quarterly reports to Congress regarding its This bill requires the funding from the Financial Research Fund to be made available by appropriations acts. The budgets of the FSOC and the OFR are funded by assessments on financial institutions which are deposited into the Financial Research Fund and, under current law, are immediately available to be spent. This bill subjects the budgets of the Financial Stability Oversight Council (FSOC) and the Office of Financial Research (OFR) to the annual appropriations process and establishes requirements for reports and a public notice and comment period. Identify risks to US financial stability that could arise from the material financial distress or failure, or ongoing activities of large interconnected bank. Shown Here:įinancial Stability Oversight Council Reform Act ![]()
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