Yellen to chair previously unscheduled FSOC meeting on Friday

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Yellen to chair previously unscheduled FSOC meeting on Friday - reports

Published Mar 24, 2023 16:22

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Yellen to chair previously unscheduled FSOC meeting on Friday - reports

By Scott Kanowsky

Investing.com -- U.S. Treasury Secretary Janet Yellen is set to chair a closed meeting of the Financial Stability Oversight Council (FSOC) on Friday, according to media sources citing a statement from the department.

It was not immediately clear when the previously unscheduled meeting would begin, nor if the council would provide further details about their discussions.

The gathering comes as regulators continue to try to assuage market concerns over the health of the financial sector following a bank run sparked by the failure of Silicon Valley Bank two weeks ago.

The body of financial regulators includes the heads of the Federal Reserve, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, and other regulatory agencies. The FSOC is tasked with identifying risks to U.S. financial stability, although it has little legal authority.

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