Treasury has proposed the fees required by the Dodd-Frank Act1 to fund the Financial Stability Oversight Council (FSOC) and Office of Financial Research (OFR), as well as the implementation expenses incurred by the FDIC in establishing its orderly-liquidation authority (OLA).2 Funds gathered under this proposal would go into a “Financial Research Fund” (FRF) to be managed by the Treasury. The proposed assessment framework is based on firm size, likely premised on the fact that only BHCs and foreign banking organizations (FBOs) now pay the cost of systemic regulation.

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