It is important to emphasize that the Congress enacted the Dodd-Frank Act largely in response to the “too big to fail” problem, and that most of its provisions apply only, or principally, to the largest, most complex, and internationally active banks.
To mitigate the threat to financial stability posed by systemically important financial firms, the act required the Federal Reserve to implement enhanced prudential standards to regulate these firms. The Board in December requested comment on proposed rules for systemically important firms, including stronger capital, leverage, liquidity, and risk-management requirements.