12 CFR § 1310.1 - Authority and purpose.

---
identifier: "/us/cfr/t12/s1310.1"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 1310.1 - Authority and purpose."
title_number: 12
title_name: "Banks and Banking"
section_number: "1310.1"
section_name: "Authority and purpose."
chapter_name: "FINANCIAL STABILITY OVERSIGHT COUNCIL"
part_number: "1310"
part_name: "AUTHORITY TO REQUIRE SUPERVISION AND REGULATION OF CERTAIN NONBANK FINANCIAL COMPANIES"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 5321; 12 U.S.C. 5322; 12 U.S.C. 5323."
regulatory_source: "77 FR 21651, Apr. 11, 2012, unless otherwise noted."
cfr_part: "1310"
---


# 1310.1 Authority and purpose.

(a) *Authority.* This part is issued by the Council under sections 111, 112 and 113 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”) (12 U.S.C. 5321, 5322, and 5323).

(b) *Purpose.* The principal purposes of this part are to set forth the standards and procedures governing Council determinations under section 113 of the Dodd-Frank Act (12 U.S.C. 5323), including whether material financial distress at a nonbank financial company, or the nature, scope, size, scale, concentration, interconnectedness, or mix of the activities of the nonbank financial company, could pose a threat to the financial stability of the United States, and whether a nonbank financial company shall be supervised by the Board of Governors and shall be subject to prudential standards in accordance with title I of the Dodd-Frank Act.