WASHINGTON – The U.S. Department of the Treasury’s Office of Financial
Research (OFR) has delivered a report to the Financial Stability Oversight
Council (Council) on ways that activities in the asset management industry
might create, amplify, or transmit stress through the financial system.
report, Asset Management and Financial
Stability, identifies industry activities that could pose risks to the
financial stability of the United States.
The OFR studied the activities of asset management firms and funds at
the request of the Council, in connection with the Council’s review of nonbank
are pleased to deliver this report to the Council, in support of its efforts to
identify and address threats to financial stability,” said OFR Director Richard
Berner. “The report is an example of how
the OFR serves the needs of the Council and collaborates with its member
report notes that significant gaps in data about the asset management industry
limit the ability to evaluate potential threats and their implications for
financial stability. The OFR will continue
working with the Council and its member agencies to further examine,
prioritize, and fill these data gaps.
developing the report, the OFR staff reviewed existing research, analyzed
industry data, interviewed market participants, and consulted extensively with
Council member agencies. A copy of the
report is available online at http://www.treasury.gov/initiatives/ofr/research/Pages/AssetManagementFinancialStability.aspx.
information on the OFR, including the Working Paper series and the Annual
Report, visit www.treasury.gov/OFR.