For example, Dodd-Frank reverses the restrictions that Gramm-Leach-Bliley placed on the powers of the Federal Reserve Board to examine subsidiaries of bank holding companies regulated by other agencies by referring explicitly to the Board’s need to be informed of risks within the subsidiaries that may “pose a threat to . . .
the stability of the financial system of the United States.” 5 Another example is section 165, which requires that the Federal Reserve establish a special set of prudential requirements for bank holding companies with more than $ billion in assets in order to “prevent or mitigate risks to the financial stability of the United States that could arise from the material financial distress or failure, or ongoing activities of large, international financial institutions.” Similarly, the far-reaching requirement in Title VII that five federal financial regulators establish margin requirements for uncleared swaps written by swap dealers and other major market participants is intended to “offset the greater risk to the [dealers] and the financial system arising from the use of [uncleared] swaps.” 6 Second, Dodd-Frank takes a number of steps to enhance the capacity of the government to monitor and analyze threats to financial stability.