Report: FSOC, OFR aren't ready to detect financial threats

03/14/2013 | Housing Wire

Treasury's Financial Stability Oversight Council and Office of Financial Research do not have the necessary tools to spot future financial threats to the system, says a Government Accountability Office report. "Without a more systematic approach and comprehensive information," these organizations aren't ready to spot which threats need to be conveyed to agencies, said the GAO's Nicole Clowers, testifying Thursday before the House Financial Services Committee.

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