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8.5 Oversight Council Information Requests

<< Title VIII Overview

8.5 Oversight Council Information Requests

 

 


            8.5.       Oversight Council Information Requests.  The Oversight Council is authorized to require any designated Utility to submit whatever information the Council may require for the sole purpose of assessing whether that Utility is systemically important.  The request may only be made if the Council has reason to believe that the Utility meets the standards for systemic importance.

            The Oversight Council is also authorized to require any financial institution to submit whatever information the Council may require for the sole purpose of assessing whether any payment, clearing, or settlement activity engaged in or supported by the financial institution is systemically important.  The request may only be made if the Council has reason to believe that the Activity meets the standards for systemic importance. [§ 809]