Financial stability agenda In the wake of the financial crisis, the Congress and the Federal Reserve itself became more deliberate and explicit about the responsibility for safeguarding the stability of the financial system. The Dodd-Frank Act, enacted in July 2010, charged the Federal Reserve with specific authorities for the purposes of safeguarding financial stability.
At the Federal Reserve, we created the Office of Financial Stability Policy and Research to strengthen our cross-disciplinary approach to the identification and analysis of potential risks to the financial system and the broader economy and to support macroprudential supervision of large financial institutions and, following its creation, participation on the Financial Stability Oversight Council (FSOC).