12 CFR § 1320.13 - Council determination regarding systemic importance.

---
identifier: "/us/cfr/t12/s1320.13"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 1320.13 - Council determination regarding systemic importance."
title_number: 12
title_name: "Banks and Banking"
section_number: "1320.13"
section_name: "Council determination regarding systemic importance."
chapter_name: "FINANCIAL STABILITY OVERSIGHT COUNCIL"
part_number: "1320"
part_name: "DESIGNATION OF FINANCIAL MARKET UTILITIES"
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. 5463; 12 U.S.C. 5468; 12 U.S.C. 5469"
regulatory_source: "76 FR 44773, July 27, 2011, unless otherwise noted."
cfr_part: "1320"
---


# 1320.13 Council determination regarding systemic importance.

(a) *Designation determination.* The Council shall designate a financial market utility if the Council determines that the financial market utility is, or is likely to become, systemically important.

(b) *Rescission determination.* The Council shall rescind a designation of systemic importance for a designated financial market utility if the Council determines that the financial market utility no longer meets the standards for systemic importance.

(c) *Vote required.* Any determination under paragraph (a) or (b) of this section and any proposed determination under § 1320.12 shall—

(1) Be made by the Council and must not be delegated by the Council; and

(2) Require the vote of not fewer than two-thirds of the members of the Council then serving, including the affirmative vote of the Chairperson of the Council.

(d) *Consultations.* Before making any determination under paragraph (a) or (b) of this section or any proposed determination under § 1320.12, the Council shall consult with the relevant Supervisory Agency and the Board of Governors.