President Orders Review of the SIFI Designation Process and the Orderly Liquidation Authority
April 25, 2017
President Trump has directed the Secretary of the Treasury to conduct reviews and provide reports within 180 days on a range of issues related to the Orderly Liquidation Authority (OLA) for troubled nonbank financial companies and the Financial Stability Oversight Council’s (FSOC) designation of nonbank financial companies as systemically important financial institutions (SIFIs). During the review period, the Secretary has been instructed to refrain from making any determination to invoke OLA without consulting the President or to vote for any non-emergency proposed SIFI determinations.
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