11  DFA §111(2)(N) and §153(d). 12  DFA §113(C)(1). 13  DFA § 113(a)(2)(K). 14  DFA §803 (6). 15  For financial market utilities, unlike nonbank financial firms, the likelihood of becoming systemically important is enough to authorize designation. DFA §804 (a)(1). This same provision allows designation of “‘payment, clearing, or settlement activities,”‘ presumably regardless of who conducts those activities.
16  DFA §805. 4  BIS central bankers’ speeches  the United States.” 17 In July, the FSOC designated eight financial market utilities as systemically important and they are now subject to special risk-management standards.