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United States Code (Last Updated: May 24, 2014) |
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Title 12. BANKS AND BANKING |
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Chapter 53. WALL STREET REFORM AND CONSUMER PROTECTION |
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SubChapter I. FINANCIAL STABILITY |
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Part C. Additional Board of Governors Authority for Certain Nonbank Financial Companies and Bank Holding Companies |
§ 5373. International policy coordination
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(a) By the President The President, or a designee of the President, may coordinate through all available international policy channels, similar policies as those found in United States law relating to limiting the scope, nature, size, scale, concentration, and interconnectedness of financial companies, in order to protect financial stability and the global economy.
(b) By the Council The Chairperson of the Council, in consultation with the other members of the Council, shall regularly consult with the financial regulatory entities and other appropriate organizations of foreign governments or international organizations on matters relating to systemic risk to the international financial system.
(c) By the Board of Governors and the Secretary The Board of Governors and the Secretary shall consult with their foreign counterparts and through appropriate multilateral organizations to encourage comprehensive and robust prudential supervision and regulation for all highly leveraged and interconnected financial companies.