Today, U.S. Secretary of the Treasury Scott Bessent convened a meeting of the Financial Stability Oversight Council (Council) in executive session at the U.S. Department of the Treasury (Treasury).
During the meeting, the Council heard an update from Treasury staff on the Council’s quarterly financial stability monitor. The presentation described key developments during the third quarter of 2026 in financial markets, the banking sector, households, and financial and technological innovation. The presentation also highlighted trends in equity and debt markets and macroeconomic considerations. Overall, the financial system remains resilient and poised to support economic growth, but the Council will continue its ongoing monitoring for financial stability considerations.
The Council then received a presentation from Treasury staff on the Council’s Household Resilience Working Group. Staff updated the Council on household financial conditions and work related to fraud. The presentation highlighted that household financial conditions remain broadly healthy based on key indicators and discussed Council member agencies’ efforts to address fraud as a persistent and growing consideration for household resilience.
The Council also received an update from the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation on banking supervision and regulation reform efforts. The agencies described their recently issued final and proposed rules and guidance to simplify and modernize supervision and regulatory requirements.
Finally, the Council voted to approve its fiscal year 2027 budget and the minutes of its previous meeting on July 15, 2026. The approved budget provides for fiscal year 2027 expenditures of $9,337,069 for the Office of the Financial Stability Oversight Council at Treasury and the office of the Council’s independent member with insurance expertise.
In attendance at the Council meeting at Treasury were the following members:
- Scott Bessent, Secretary of the Treasury (Chairperson of the Council)
- Kevin Warsh, Chairman, Board of Governors of the Federal Reserve System
- Jonathan V. Gould, Comptroller of the Currency
- Mark Paoletta, Acting Director, Consumer Financial Protection Bureau
- Paul S. Atkins, Chairman, Securities and Exchange Commission
- Travis Hill, Chairman, Federal Deposit Insurance Corporation
- Michael S. Selig, Chairman, Commodity Futures Trading Commission
- William J. Pulte, Director, Federal Housing Finance Agency
- John Crews, Chairman, National Credit Union Administration
- Steven Seitz, Director, Federal Insurance Office (non-voting member)
- Elizabeth K. Dwyer, Director, Rhode Island Department of Business Regulation (non-voting member)
- Lise Kruse, Commissioner, North Dakota Department of Financial Institutions (non-voting member)
- Melanie Lubin, Securities Commissioner, Office of the Attorney General of Maryland, Securities Division (non-voting member)
Additional information regarding the Council, its work, and the recently approved budget, and meeting minutes is available at https://www.fsoc.gov .