FSOC Does What Again?
Later on Monday, we’ll advise clients of the FSOC meeting’s outcome. Open sessions of this august council are so infrequent that we view them with great anticipation – or we would if the agendas made known to the public addressed critical systemic-risk concerns. These there are a’plenty as interest rates rise, geopolitical risk grows, and much more might well go amiss, but FSOC is planning to tell the public little more than where its various reports and internal deliberations stand. These are on matters of note such as climate risk and cloud computing, but what’s to come of them beyond telling the public not to worry much is hard to discern. More may come in the wake of Treasury’s various, ground-breaking cryptoasset-policy reports (see Client Report CBDC14, Client Report CRYPTO32, GSE Activity Report Can you see CBDC, and FSM Report AML136). So, as always, we’ll be monitoring, analyzing, and alerting you ASAP. Still, we wish we had more to say about some of the most important issues of these days in this market.