The LISCC is founded on several principles: that large institution supervision should be more centralized; that it should conduct regular, simultaneous, horizontal (cross-firm) supervisory exercises; and that it should be more interdisciplinary than it has been in the past.
Thus, the LISCC includes senior Federal Reserve staff from research, legal and other divisions at the Board, from the markets and  BIS central bankers’ speeches  5  payments systems groups at the Federal Reserve Bank of New York, and senior bank supervisors from the Board and relevant reserve banks.