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Legislation would stop FSOC from addressing financial-stability threats, Treasury official says

( July 22, 2015, 15:20 GMT | Official Statement) -- MLex Summary: US Treasury deputy assistant secretary Patrick Pinschmidt expressed concern with congressional proposals that he said would crimp the US Financial Stability Oversight Council’s effectiveness. “We are particularly concerned with legislative proposals that would dramatically lengthen an already long and deliberative designation process, impose insurmountable practical hurdles on the Council’s work, and prevent the Council from taking action to address potential threats to financial stability that it has identified,” he told a Senate subcommittee.Statement follows in full. ...

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