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          OFR Raises Concerns About                              House Passes Bill Ending

          Market, Cyber Risk in 2017                             Arbitrary $50B Threshold for
          Report                                                 SIFI Status

          While the financial                                    The House has passed H.R. 3312, the Systemic Risk Designation
          system is more resilient                               Improvement Act of 2017, by a bipartisan vote of 288 to 130.
          today  than   before                                   The bill replaces the arbitrary $50 billion asset threshold for
          the financial crisis,                                  systemically important status in the Dodd-Frank Act with a
          new vulnerabilities –                                  more tailored, nuanced set of systemic risk indicators. Under the
          including market risk and cyber risk – continue to pose threats   bill, the Federal Reserve would review a financial institution’s
          to financial stability, the Office of Financial Research (OFR)   size, interconnectedness, global activity, and complexity to
          said in a recent report. OFR raised concerns  that potential   determine  whether  it  should  be  subject  to  regulation  as  a
          sudden changes in asset prices could disrupt financial markets   systemically important financial institution (SIFI).
          and affect economic growth, and warned of vulnerabilities
          resulting from excessive leverage. These market risks could be   Justice Department Revokes
          mitigated through the Federal Reserve’s gradual increase of
          interest rates, as well as by investors with longterm liabilities that   Obama-Era Guidance on
          could withstand short-term market fluctuations, OFR noted.   Marijuana Enforcement
          The industry also remains vulnerable to cybersecurity threats,
          due to its interconnectedness and reliance on technology, OFR   The Justice Department has revoked prior guidance on
          said. Of key concern is the potential effects of a widespread   enforcement of federal marijuana laws in states where the
          cyberattack.                                           drug has been legalized, Attorney General Jeff Sessions
                                                                 said in a memo to federal prosecutors. Related guidance
          To read more visit:  on handling marijuana-related transactions, issued in
          financial-stability-reports/2017-financial-stability-report/  2014 to financial institutions from the Financial Crimes

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