U.S. Secretary of the Treasury Scott Bessent convened a meeting of the Financial Stability Oversight Council in executive session at the U.S. Department of the Treasury on September 29, 2026.
During the meeting, the Council heard an update from Treasury staff on the Council's quarterly financial stability monitor. The presentation described key developments during the third quarter of 2026 in financial markets, the banking sector, households, and financial and technological innovation, and highlighted trends in equity and debt markets and macroeconomic considerations. Overall, the financial system remains resilient and poised to support economic growth, but the Council will continue its ongoing monitoring for financial stability considerations.
The Council then received a presentation from Treasury staff on the Council's Household Resilience Working Group. Staff updated the Council on household financial conditions and work related to fraud, highlighting that household financial conditions remain broadly healthy based on key indicators, and discussed Council member agencies' efforts to address fraud as a persistent and growing consideration for household resilience.
The Council also received an update from the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation on banking supervision and regulation reform efforts. The agencies described their recently issued final and proposed rules and guidance to simplify and modernize supervision and regulatory requirements.
Finally, the Council voted to approve its fiscal year 2027 budget and the minutes of its previous meeting on July 15, 2026. The approved budget provides for fiscal year 2027 expenditures of $9,337,069 for the Office of the Financial Stability Oversight Council at Treasury and the office of the Council's independent member with insurance expertise.
In attendance were Bessent, who chairs the Council, Federal Reserve Chairman Kevin Warsh, Comptroller of the Currency Jonathan V. Gould, Acting Consumer Financial Protection Bureau Director Mark Paoletta, Securities and Exchange Commission Chairman Paul S. Atkins, Federal Deposit Insurance Corporation Chairman Travis Hill, Commodity Futures Trading Commission Chairman Michael S. Selig, Federal Housing Finance Agency Director William J. Pulte, National Credit Union Administration Chairman John Crews, and non-voting members Steven Seitz, Elizabeth K. Dwyer, Lise Kruse and Melanie Lubin.