CRS – Financial Stability Oversight Council: A Framework to Mitigate Systemic Risk, by Edward V. Murphy, Specialist in Financial Economics. May 21, 2013:  “The Financial Stability Oversight Council (FSOC) was created by the Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA; P.L. 111-203) in 2010 as part of a comprehensive reform of banking and securities market regulators. The council is charged with monitoring systemic risk in the financial system and coordinating several federal financial regulators. The 113th Congress may wish to monitor the performance, rulemaking, and policy recommendations of the council. This report describes the mission, membership, and scope of the FSOC. It provides an analysis of several major policy issues related to the FSOC that may come before the 113th Congress.”